Warrnambool shares hit record on higher Saputo bid

Thu Oct 24, 2013 8:12pm EDT
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SYDNEY Oct 25 (Reuters) - Shares in Australia's Warrnambool Cheese and Butter Factory Company Holdings Ltd (WCB) rose more than 3 percent to a record high of A$8.45 on Friday after Canada's Saputo Inc raised its takeover offer for the company.

Saputo's A$8 per share offer trumped separate approaches from WCB's two largest shareholders, Australian-based Bega Cheese Ltd and Murray Goulburn Co-operative Co Ltd. (Reporting by Lincoln Feast; Editing by Edwina Gibbs)