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Warrnambool Cheese & Butter Factory Co (ASX:WCB) is advising shareholders to take no action in relation to their shares until directors have reviewed a revised bid from Murray Goulburn Co-Operative.
The cheese maker is seeking leave to participate in the Australian Competition Tribunal process as an interested party as it considers the all cash $9.50 per share takeover offer from Murray Goulburn.
The offer is conditional on the tribunal granting authorisation and WCB says it is reviewing a public version of the suitor's application but has not yet received supporting materials or a confidential version of the application.
WCB is also fielding takeover offers from Canadian dairy giant Saputo, which it has recommended, and from Bega Cheese Ltd.
Warrnambool Cheese & Butter Factory reported a net profit of $7.5 million in the 2013 financial year.
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