Saputo now have 20%, a long way from the numbers they need. So unless there is a rush of acceptances in the mail one would think Saputo would have to extend to have any hope.
Otherwise we have a very split company with three major shareholders.
As for MG getting BGA shares, good point with Fonterra, I imagine that relationships between BGA and MG are at the moment a touch testy seeing MG have been actively trying to poach BGA suppliers in NSW. Have grabbed 6 from the old Bodalla co-op, who I might say have always been a thorn in the side of BGA.
Will Saputo extend and drag it out, we will know very soon.
On a side note BGA nice rise last couple of days in a down market, does someone know something?
WCB Price at posting:
$9.13 Sentiment: Sell Disclosure: Not Held
