Green Light for Fonterra's $3.2b Capital Return Scheme
Fonterra farmer shareholders have approved the mechanism for a $2/share capital return expected from the sale of its global consumer and associated businesses.
When it's bad news - water quality, losses when commodity prices crash, etc. - the loudmouths are very clear that it's "their" (the industry's) problem.
But when they feel domestic butter prices are too high, or that Fonterra shouldn't "sell the family jewels", it's suddenly "our milk" and "our industry".
So, note to those like Helen Clark who suddenly have an opinion on Fonterra's business decisions - this is not China and Fonterra is not the property of some communist bureaucracy, it's a privately owned business.
The only ones who get to decide if they should sell assets are the ones who built those assets with blood, sweat and tears!
Read More:
- Strong shareholder mandate needed for Fonterra's $4.22b divestment
- Fonterra consumer business sale price jumps to $4.22b
- Fonterra seeks strong farmer mandate for sale
