Keeping cyber attacks at bay
Fonterra says it takes the ongoing threat of 'adverse cyber action' extremely seriously.
Bidders are lining up for beleaguered Australian dairy co-op Murray Goulburn.
Fonterra has been named by Australian media as one of the bidders; others include A2 Milk and several Chinese dairy players.
The co-op, Australia’s largest processor of milk, is in strife following the sharp drop in dairy prices over the past two years; the co-op was forced to claw back milk payout from farmers, triggering an exodus of suppliers.
Recently it announced an after-tax loss for 2016-17 of A$370 million.
MG has told farmer shareholders that all options are on the table as part of a strategic review underway.
“There is no pre-determined outcome to the strategic review and all options are on the table,’ it says.
MG says since announcing the review, MG and its financial advisor have received a range of proposals from third parties. “It is the duty of MG’s directors to consider whether any bona fide propositions tabled are in the best interest of MG’s shareholders.
“The board has asked our advisor to now review any formal proposals received to determine how they might add value to MG’s suppliers, shareholders, and unitholders.”
MG says any potential bidder’s ability to pay higher farmgate prices, access capital for future developments and views on its co-op principles will be crucial for its shareholders.
Fonterra has been approached for comment.
Recent rain has offered respite for some from the ongoing drought.
New Zealand's TBfree programme has made great progress in reducing the impact of the disease on livestock herds, but there’s still a long way to go, according to Beef+Lamb NZ.
With much of the North Island experiencing drought this summer and climate change projected to bring drier and hotter conditions, securing New Zealand’s freshwater resilience is vital, according to state-owned GNS Science.
OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.
For Wonky Box co-founder Angus Simms, the decision to open the service to those in rural areas is a personal one.
The golden age of orcharding in West Auckland was recently celebrated at the launch of a book which tells the story of its rise, then retreat in the face of industry change and urban expansion.
OPINION: Should Greenpeace be stripped of their charitable status? Farmers say yes.
OPINION: After years of financial turmoil, Canterbury milk processor Synlait is now back in business.