Murray Goulburn withdraws WCB offer

Dairy group to reap $51m profit after selling its Warrnambool stake to Saputo, paving way for full Saputo takeover.

Murray Goulburn Co-operative is set to reap a $51 million profit after bowing to Canadian dairy giant Saputo in the race for Warrnambool Cheese and Butter Factory Holdings Ltd.

In a statement to the Australian Securities Exchange, Murray Goulburn said it intended to seek approval from the Australian Securities and Investments Commission to withdraw its bid for WCB.

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