Takeovers Panel clears Saputo bid for WCB

THE Takeovers Panel has cleared Saputo to go ahead with its bid to takeover Warrnambool Cheese and Butter, subject to a number of conditions.

The panel found the offer that triggered its investigation was problematic, but has allowed acceptances of shares to go ahead if the offer period is extended, if shareholders are allowed to withdraw and if WCB makes clear the status of the three takeover bids on the table.

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