Saputo lifts WCB bid to $8

Canadian diary giant increases takeover tilt by $1 a share, offers wins unanimous backing from WCB board.

Canadian dairy giant Saputo has increased its takeover bid for Warrnambool Cheese and Butter Factory Company Ltd (WCB), in a move that has won the endorsement of the Victorian dairy processor's board.

WCB said the revised Saputo offer gives it the discretion to pay two fully franked special dividends of up to $1.31 per share in aggregate, noting that any special dividends would be deducted from the offer price of $8.



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