The Distillery: Murray Goulburn sours

Jotters say while Murray Goulburn’s sweetened WCB bid has bought it time, regulatory hurdles, farmer opposition and renewed rival bids could yet get in the way.

The ongoing stoush for control of Warrnambool Cheese and Butter Factory has yet to usher in a victor, with the battle only getting more heated over the past week. The latest move came from Murray Goulburn Co-operative, which put forward a bid of $9 a share that most commentators see as a move to buy time. But one scribe isn’t sure that’s enough, and expects the Competition Tribunal is poised to play spoiler.

Elsewhere, the positive reaction to Myer’s sales results yesterday leads one commentator to note just how subdued expectations are for the country’s major retailers.

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