Warrnambool urges Saputo bid

Cheese maker tells shareholders Bega's offer cannot match Saputo's.

Warrnambool Cheese and Butter (WCB) has urged its shareholders to reject a takeover proposal from rival Bega Cheese (BGA), saying the offer is inferior to one put forward by Canadian dairy giant Saputo.

Bega last week said it intended to put its takeover offer to WCB shareholders, despite saying it would not lift its offer to match that put forward by Saputo.

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