Fonterra slashes forecast milk price, again
Fonterra has slashed another 50c off its milk price forecast as global milk flows shows no sign of easing.
Shareholder meetings have ended, management have made their case and the ball is now in the farmers’ court.
Not all Fonterra farmers back the divestment, which will see Lactalis paying $4.22 billion for the co-op’s consumer and related businesses.
Expect some farmers to vote from their heart and oppose the sale – voting to keep these iconic brands in NZ hands.
But Fonterra is expecting a majority to say yes. The co-op requires 50.1% support from those who vote – a threshold they should easily achieve.
