Lion's Warrnambool stake thickens the plot

Kirin's Lion may use its 10 percent stake in the Victorian dairy asset to secure a favourable supply contract with Saputo, if the Canadian bid succeeds.

A move by New Zealand dairy giant Fonterra last week to email industry players widely publicising its appointment of the former head of equity capital markets at Goldman Sachs, Mike Everett, as its adviser has left some puzzled.

"It is very strange," a source said yesterday.

Fonterra would not comment yesterday.

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