Fonterra seeks strong farmer mandate for sale
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
And it seems interest is strong across the ditch, not surprising when Fonterra Oceania owns some of Australia and New Zealand’s top milk, cheese and dairy dessert brands.
Bega Cheese last week informed the market that it was making a bid for Fonterra’s Oceania business. French company Lactalis has also confirmed that its Australian business unit is in the hunt for Fonterra Oceania.
And media reports say A2 Milk, with around $1 billion cash reserves, is eyeing manufacturing assets in New Zealand.
