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MGC, MURRAY GOULBURN
blacksheep
post Posted: Oct 27 2017, 09:39 AM
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Posts: 6,791
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In Reply To: blacksheep's post @ Oct 26 2017, 07:58 PM

SP up 7.23% on the news - currently 89c
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Still a long way off the highs after it was floated - around the $2.40 mark
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 26 2017, 07:58 PM
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In Reply To: blacksheep's post @ Oct 26 2017, 12:39 PM

Canada's Saputo is set to be named preferred bidder for the operations of embattled milk processor Murray Goulburn.

Read more: http://www.afr.com/business/banking-and-fi...e#ixzz4wbg7KHGt




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 26 2017, 12:39 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Oct 26 2017, 10:41 AM

Bega has come saying it's not a potential buyer - extract from the Age. AFR seem to be getting a few "sources" wrong lately

Bega Cheese has confirmed it is not a potential buyer of troubled dairy processor Murray Goulburn.
QUOTE
Bega was reportedly considering a takeover of Australia's largest milk processor, but said on Thursday it is no longer a potential purchaser, and it has no current plans to raise capital.

Chairman Barry Irvin said Bega continues to maintain a strong balance sheet and believes there are a number of potential opportunities in dairy and food.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 26 2017, 10:41 AM
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Posts: 6,791
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In Reply To: blacksheep's post @ Oct 20 2017, 10:52 AM

Macquarie Capital joins Bega Cheese camp in Murray Goulburn auction

Read more: http://www.afr.com/street-talk#ixzz4wZPdGFpP

MGC keen to reveal winner of sales process at Friday's AGM, according to this article
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 20 2017, 10:52 AM
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Posts: 6,791
Thanks: 2304


In Reply To: blacksheep's post @ Oct 12 2017, 09:24 AM

Competition concerns could curdle Murray Goulburn deal
QUOTE
Few industries seem to capture the Australian Competition and Consumer Commission's attention like dairy. Treasurer Scott Morrison has had the ACCC looking into the whole dairy industry for the past 12 months, while the competition regulator singled out Murray Goulburn earlier this year claiming it had misled farmers by overstating its milk price forecast.

And now it seems only a matter of time before the competition regulator is asked to weigh in on Murray Goulburn's auction. ....................


Read more: http://www.afr.com/street-talk#ixzz4w0NVwhHG
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 12 2017, 09:24 AM
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In Reply To: blacksheep's post @ Sep 27 2017, 07:46 PM

Might start to receive some further interest, as the battle for MGC moves to the next level?
extract from The Australian
QUOTE
Cream of the crop

While on matters rural, the $1.2 billion battle for Murray Goulburn is due to move into due diligence shortly, with the second round bids due in Wednesday.

The next stage is understood to include at least one potential Chinese buyer, Bega, Saputo and Goodman Fielder, but there are question marks over Fonterra and Parmalat
.
http://www.theaustralian.com.au/business/o...d7df1068ad90c52
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 

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blacksheep
post Posted: Sep 27 2017, 07:46 PM
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Fonterra still considered a fron trunner according to this article

QUOTE
Doing their best to ensure Murray Goulburn retains the cream of its potential suitors, Deutsche Bank's sale process is introducing a few extra stages for would-be buyers of the country's largest dairy processor.

Doing their best to ensure Murray Goulburn retains the cream of its potential suitors, Deutsche Bank's sale process is introducing a few extra stages for would-be buyers of the nation's largest dairy processor.

Street Talk has learned that Deutsche has introduced an extra step into the so-called "stage two" process, which is normally when parties are selected for due diligence. But in this auction, the information is being dripped out.

According to a process letter sent this week to interested parties and seen by this column, bidders are being asked to submit a term sheet by Tuesday, October 10 on the basis of additional, albeit limited, information.

Those that are short-listed will be given further diligence materials, and invited into the data room and to take part in a Q&A, the letter says.

Murray Goulburn is attempting to wrap up the deal by the end of the year and the extra vetting is designed to ensure that bidders understand the complex structure of the dairy co-operative
.

Read more: http://www.afr.com/street-talk#ixzz4ts4dPClc





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 25 2017, 02:57 PM
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In Reply To: blacksheep's post @ Sep 21 2017, 03:22 PM

Fonterra confirms bid for Murray Goulburn
ABC Rural
By Warwick Long, Helen Taylor and Jess Davis
Posted 38 minutes ago
QUOTE
New Zealand-owned dairy giant Fonterra has confirmed it has made a bid for embattled milk processor Murray Goulburn.

Managing director of Fonterra Australia Rene Dedoncker confirmed to ABC Rural that his company had made the bid while outlining the company's financial performance for the past year.

"The answer is yes we have put forward a proposal," Mr Dedoncker said.

"It's non-binding and indicative and at this point we are going to sit tight and give the MG board the respect they deserve to consider all proposals."

Mr Dedoncker would not elaborate on any further details of the proposal but said he could see a combined Murray Goulburn and Fonterra working well.

"In many respects we're not that different," he said adding, "When they [the Murray Goulburn board] are ready to talk we will be there and at some point when the boards are aligned there may be news."

Fonterra Australia is already quickly overtaking Murray Goulburn as Australia's largest milk processor.

In 2015, the company collected 1.5 billion litres of milk from Australian farms but as the crisis gripped the Australian dairy industry that figure had grown to more than 2 billion litres of milk.

In the same period Murray Goulburn's milk supply had fallen from more than 3 billion litres to an expected 2 billion litres of milk this year.

Based on those figures, if Fonterra was successful in taking over Murray Goulburn, the combined company would collect between 40 and 50 per cent of the milk produced in Australia, raising regulatory concerns.

The Australian Competition and Consumer Commission's agriculture commissioner, Mick Keogh said it was something the regulator was watching.

"As far as we are aware there are up to a half a dozen different bids either for part or the entirety of Murray Goulburn," Mr Keogh said.

"If we're talking hypothetically about two of the largest players proposing to merge, yes, you would think that would have a likely affect on competition in the dairy industry."

"It's probably too early to foreshadow any of that at the moment."

Meanwhile, Fonterra has posted its annual results and while profit was down 11 per cent to $645.5 million (NZ$ 745 million) their revenue increased by 12 per cent.

Fonterra has continued to grow its milk supply as it pays more for milk than major rival, Murray Goulburn.

Mr Dedoncker said the business was generating sustainable returns and was now looking to grow to meet higher demand for dairy.

"We have hit all our performance targets, we have a clear strategy which is delivering and have the right assets and product mix on the ground," he said.

"We are now looking to build on that base with further expansion linked to growing customer demand for consumer dairy, food service products and dairy ingredients.

"With our plants full we will be accelerating our capital investments in regional Victoria and Tasmania playing to our strengths in cheese, whey and nutritionals."

The company admitted that as their supply and dominance in Australia grew they now had a waiting list of dairy farmers who would like to supply the company.

As part of the results Fonterra Australia has reported a $62 million Earnings Before Interest and Taxes (EBIT) profit and said Australian assets were generating an 11 per cent return on investment.

http://www.abc.net.au/news/rural/2017-09-2...-for-mg/8984108



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 21 2017, 03:22 PM
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In Reply To: blacksheep's post @ Sep 21 2017, 12:39 PM

QUOTE
Murray Goulburn strategic review

Murray Goulburn Co-operative Co. Limited (MG) notes recent media speculation regarding its previously
announced strategic review.

MG confirms that it has received a number of confidential, non-binding indicative proposals. These proposals
have ranged from the sale of certain assets to whole of company transactions. No offer has been received for the
units in MG Unit Trust for $1.20 per unit, as speculated in the media.

MG and its financial advisor Deutsche Bank AG are engaging with a number of parties to assess their proposals,
including valuation. At this point it is too early to make any comment about valuation or implementation. MG
notes there is no certainty that any transaction will eventuate.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 21 2017, 12:39 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Sep 18 2017, 12:02 PM

SP up 13.5% @ 88c/share this morning on strong volume - 2.5 million



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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