After a disasterous recent run in the dairy industry and write offs of more than 1.2BN in the past 5 years, Lion has bought a blocking stake of 9.9% in the Warrnambool Cheese and Butter Factory sending shares skyrocketing 10% to a high of $9.30. Lion has bought itself a crucial seat at the table through its stake in Warrnambool Cheese & Butter, with the strategic move designed to safe-guard Lion's every-day cheese deal with the Victorian dairy group. It's likely that Lion only wants to secure a stake to sure up future negotiations rather than takeover Warrnambool. Read more: (VIEW LINK)
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So many players involved. Bega on the table as a possible target now