Buttery prize
OPINION: Westland Milk may have won the contract to supply butter to Costco NZ but Open Country Dairy is having the last laugh when it comes to cashing in on NZ grass-fed butter.
On July 4 Westland supplier shareholders meet to vote on Yili’s offer of $3.41/share.
The co-op’s largest shareholder, Southern pastures is abstaining from the vote. State-owned farmer PAMU, also a Westland supplier, hasn’t made up its mind yet on how it will vote.
Also reports of a big bonus to executives should the Yili deal go through is causing concern among some shareholders.
What seemed like a straight forward vote a couple of months ago is now looking slightly shaky.
