Fair shake of the milk bottle, mate

WCB's bidding process showed a regulatory environment stacked against local players. In future, Australian companies ought to at least have the chance to compete fairly.

As Canada’s Saputo marches towards control of Warrnambool Cheese and Butter it is worth considering whether the process, rather than the outcome, revealed shortcomings in the regulatory environment within which the bid unfolded.

The outcome of the bid was effectively determined by a press release on November 12 last year, when the Treasurer, Joe Hockey, announced that he had approved Saputo’s foreign investment application and cleared the way for its bid.

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