KPMG calls Bega offer 'unfair'

Accounting firm's review concludes takeover offer 'neither fair nor reasonable', says offer 17.1% to 18.9% lower than share value.

Warrnambool Cheese and Butter Factory Company Holdings (WCB) says an independent expert's report has concluded Bega Cheese's (BGA) takeover offer is neither fair nor reasonable.

In a statement to the Australian Securities Exchange, WCB said KPMG Corporate Finance's report concluded Bega's offer consideration is between 17.1% and 18.9% lower than its assessed valuation range for WCB shares.

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