Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Australia
  4. Australian Stock Exchange
  5. Bega Cheese Limited
  6. News
  7. Summary
    BGA   AU000000BGA8

BEGA CHEESE LIMITED

(BGA)
  Report
Delayed Quote. Delayed Australian Stock Exchange - 01/18 12:10:54 am
5.22 AUD   +2.15%
01/16Corporate Australia burdened by Omicron surge
RE
2021Gold, banking stocks drive Australian shares up as Omicron worries ease
RE
2021Australia shares boosted by banks, gold miners
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Warrnambool board recommends revised Saputo bid

11/15/2013 | 06:50am EST

SYDNEY (Reuters) - Canadian dairy company Saputo Inc (>> Saputo Inc.) raised its takeover offer for Australia's Warrnambool Cheese and Butter Factory Co Holdings Ltd (WCB) (>> Warrnambool Cheese & Butter Factory Co.) by 12.5 percent on Friday, and Warrnambool's board unanimously recommended it.

SYDNEY (Reuters) - Canadian dairy company Saputo Inc (>> Saputo Inc.) raised its takeover offer for Australia's Warrnambool Cheese and Butter Factory Co Holdings Ltd (WCB) (>> Warrnambool Cheese & Butter Factory Co.) by 12.5 percent on Friday, and Warrnambool's board unanimously recommended it.

Saputo, Canada's largest dairy company, has been bidding against WCB shareholders Bega Cheese Ltd (>> Bega Cheese Ltd) and Murray Goulburn Co-operative Co Ltd, chasing WCB for its export connections to Asia, where demand for both for its basic dairy produce and high-tech milk extracts is surging.

Saputo's new bid, at A$9 per share, values Australia's oldest dairy company at A$505 million ($470.84 million), making it the world's most expensive dairy company on a price-to-earnings basis.

To win the battle Saputo said it would remove all conditions from its offer and shorten its payment terms to five business days.

WCB said on Friday that after careful consideration of the three proposals received over the past few days, it decided to recommend Saputo's new offer, in absence of a superior proposal.

"The board's recommendation reflects the increased cash consideration offered by Saputo and the compelling timing and execution certainty that it provides, particularly compared to the highly conditional Murray Goulburn proposal," WCB Chairman Terry Richardson said in a statement.

WCB also said it intended to declare and pay special dividends of up to A$1.31 per share if Saputo reaches certain thresholds that would allow it to distribute certain tax credits to WCB shareholders.

Bega on Thursday raised its cash and share bid for WCB to $461 million and did not attach conditions to its offer like other suitors.

Murray Goulburn offered A$9 cash per share, conditional on winning majority control and approval from competition regulators.

WCB shares closed at A$9.10 on Thursday before it requested a trading halt. Bega shares were 2.9 percent higher at A$4.58. ($1 = 1.0755 Australian dollars)

(Additional reporting by Martinne Geller in London; Editing by Stephen Coates and Elaine Hardcastle)

By Lincoln Feast and Jackie Range


ę Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
BEGA CHEESE LIMITED 2.15% 5.22 Delayed Quote.-9.88%
CHEESE FUTURES (CSC) - CMG (ELECTRONIC)/C1 -0.31% 1.9 End-of-day quote.8.08%
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 -0.20% 20.28 End-of-day quote.10.10%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.80% 22.58 End-of-day quote.14.75%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 0.92% 68.85 End-of-day quote.7.75%
KIRIN HOLDINGS COMPANY, LIMITED -0.94% 1846 Delayed Quote.0.89%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 -0.09% 164.1 End-of-day quote.6.16%
S&P GSCI CLASS III MILK (USD) 1.87% 173.5004 Delayed Quote.8.25%
SAPUTO INC. -1.73% 28.36 Delayed Quote.1.26%
All news about BEGA CHEESE LIMITED
01/16Corporate Australia burdened by Omicron surge
RE
2021Gold, banking stocks drive Australian shares up as Omicron worries ease
RE
2021Australia shares boosted by banks, gold miners
RE
2021Australia's Bega Cheese shares dive as COVID-19 impact prompts profit warning
RE
2021BEGA CHEESE LIMITED : Ex-dividend day for final dividend
FA
2021BEGA CHEESE : Profit After Tax Surges about 240% in FY21
MT
2021Bega Cheese Limited Declares Fully Franked Ordinary Distribution for the Six Months End..
CI
2021Bega Cheese Limited Reports Earnings Results for the Full Year Ended June 30, 2021
CI
2021Bega Cheese and Kraft Heinz Reach Settlement Over Brand Infringement Case
MT
2021Bega Cheese Limited Appoints Harper Kilpatrick as a Director
CI
More news
Analyst Recommendations on BEGA CHEESE LIMITED
More recommendations
Financials
Sales 2022 3 136 M 2 254 M 2 254 M
Net income 2022 59,9 M 43,1 M 43,1 M
Net Debt 2022 356 M 256 M 256 M
P/E ratio 2022 26,4x
Yield 2022 2,36%
Capitalization 1 582 M 1 141 M 1 137 M
EV / Sales 2022 0,62x
EV / Sales 2023 0,58x
Nbr of Employees 1 800
Free-Float 91,8%
Chart BEGA CHEESE LIMITED
Duration : Period :
Bega Cheese Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BEGA CHEESE LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Last Close Price 5,22 AUD
Average target price 5,99 AUD
Spread / Average Target 14,8%
EPS Revisions
Managers and Directors
Paul van Heerwaarden Chief Executive Officer
Peter Maxwell Findlay Chief Financial Officer
Barry Andrew Irvin Executive Chairman
Raelene Murphy Independent Non-Executive Director
Terry Xavier O'Brien Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
BEGA CHEESE LIMITED-9.88%1 117
NESTLÉ S.A.-4.32%366 960
MONDELEZ INTERNATIONAL, INC.2.70%94 998
YIHAI KERRY ARAWANA HOLDINGS CO., LTD-0.67%53 382
THE KRAFT HEINZ COMPANY5.91%46 538
DANONE6.01%43 048