Warrnambool take over bid extended

The take over bid by Saputo Inc. for Warrnambool Cheese and Butter Factory Co. has been extended out to January 22. Saputo has urged shareholders to accept the offer, which it says all of the Warrnambool directors have already accepted. Saputo has offered AU$9.60 a share as long as more than 90% can be secured. The bid for Warrnambool Cheese and Butter Co. had been due to expire on Friday the 10th, but a late extension was made. Saputo has said this will be the last extension. There has been a long battle for Warrnambool, with other bids from Bega Cheese Ltd. and Murray Goulburn. The full announcement can be downloaded from the WCB ASX page here