Warrnambool tasty target

Bega Cheese has made a takeover bid for Warrnambool Cheese & Buttery Factory Company at an implied premium to its current share price.

Bega Cheese (BGA) has thrown a takeover bid for Warrnambool Cheese & Butter Factory Company (WCB) this morning.

Bega is offering $2 cash and 1.2 of its scrip for each Warrnambool share it does not own, which implies a takeover price of $5.78 based on Bega’s last traded price.

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