Kirin enters WCB fight

Lion Nathan has taken a strategic stake in Warrnambool Cheese and Butter as the takeover battle reaches fever pitch.

Japanese group Kirin has revealed itself as the mystery buyer of a blocking stake in Warrnambool Cheese and Butter (WCB).

The Japanese brewer which owns Lion Nathan and Dairy Farmers this morning placed an order for $40 million worth of WCB stock at $9.25, sending Warrnambool's share price soaring to as high as $9.30, snapping up 9% of the company.

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