Murray Goulburn lifts Saputo bid

Suitor increases takeover offer, while rival Bega's shares spike as it joins Takeovers Panel application to stymie Saputo's bid.

Murray Goulburn Co-operative Co has increased its takeover offer for Warrnambool Cheese and Butter Factory Company Holdings (WCB), while Bega Cheese (BGA) has backed Murray Goulburn's application to the Takeovers Panel to block rival Saputo's bid.

At 1025 AEDT, Bega surged 4.73% to $4.87, after climbing as high as $4.94 in earlier trade, against a benchmark index lift of 0.4%, while WCB was flat at $9.25.


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