DataRoom AM: Rich cheese

WCB's stock is being driven up exponentially, while well-known names throw their weight behind’s float.

Ever since Saputo lobbed a revised $8-a-share bid the way of Warrnambool Cheese and Butter Factory, the market has been confident another offer will be forthcoming. However, few expected the next proposal to go as high as $9 a share. Now, for the third time in a week, there is a new leader in the race – but one expects Murray Goulburn Co-operative won’t stand alone for long.

Elsewhere, Equity Trustees reignites the battle for The Trust Company, famous names make a splash with the float and Fortescue Metals Group continues its ruthless balance sheet adjustments.



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