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As the battle for Warrnambool Cheese & Butter Factory Co (ASX:WCB) continues Bega Cheese Limited (ASX:BGA) has today sweetened its bid.
Bega has boosted its offer to 1.5 Bega shares and $2 cash per Warrnambool share, valuing the offer at $8.87 per share.
The Australian suitor has also declared its bid unconditional and noted that rival offers from Murray Goulburn Co-operative Co Ltd and Canadian dairy giant Saputo are subject to conditions.
Australia’s biggest dairy exporter Murray Goulburn increased its all-cash bid to $9 per share yesterday ahead of Saputo who has offered $8 per share.
Bega Cheese has advised this is its final offer and will not be raised further.
Bega Cheese reported a net profit of $25.4 million in the 2013 financial year.
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