DataRoom AM: Saputo sticking point

The Canadian dairy company's Warrnambool bid could still end in deadlock, while Pact shrugs off concerns over its weak debut.

Saputo has upped its offer for Warrnambool Cheese & Butter after the Takeovers Panel ruled its latest bid had caused confusion in the market. With the panel now placated, Saputo returns to the lead position in the heated race for WCB but its chances of securing majority control appear slim.

Elsewhere, the IPO market takes two more blows, Leighton Holdings’ Thiess secures a big Bowen Basin contract, Bradken makes a play for Austin Engineering and APA Group looks to wrap up control of Envestra.

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