Ann: Saputo Announces Takeover Offer for WCB, page-14

I agree, I actually hope Lion continue to give them a hard time on the offer. Lion has done ok as they sold their cheese contract to them for about $150m not long ago so lets see where it goes but if no improvement on the current offer it still cant be sniffed at.

I don't know how much franking credits WCB would have since they haven't posted a dividend in at least 2 years and not too sure that Saputo can use WCB franking credits as a buyout inventive as something niggles in the back of mind about a buyer using franking credits from the target to its existing shareholders...could be wrong.