Warrnambool to reject bid: report

Board expected to tell investors offer doesn't match its growth prospects.

Warrnambool Cheese & Butter Factory's (WCB) board is expected to deliver a letter this week urging its shareholders to take no action on Bega Cheese's (BGA) takeover bid, The Australian Financial Review reports.

According to the newspaper, the letter is expected to advise investors that Bega's $319 million offer does not fit with WBC's growth strategy, with earnings expected to improve significantly over the current financial year.

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