Saputo lifts WCB stake

Suitor's holding increases as United Dairy Power CEO backs takeover bid.

Canadian suitor Saputo Inc has again increased its stake in Warrnambool Cheese and Butter Factory (WCB), cementing its standing as the biggest shareholder in the western Victorian dairy producer.

In a statement to the Australian Securities Exchange, Warrnambool said Saputo had increased its stake to 26.445%, from 21.392%.

Last week Saputo increased its stake twice, first to 20.141% and subsequently to 21.392%.

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