Saputo edges closer to WCB takeover

SAPUTO has edged another step closer to taking control of Warrnambool Cheese and Butter (WCB).

The Canadian company this morning announced that its holding had increased from 46.17 to 47.85 per cent with the acquisition of a further 940,000 shares.

The company's offer closes at 7pm tomorrow, by which time its shareholding must exceed 50 per cent to give it control.

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