Fonterra considers acquiring Dairy Farmers
New Zealand dairy giant Fonterra is considering acquiring Australia’s Dairy Farmers.
Fonterra is the latest in a line of companies expressing interest in acquiring Dairy Farmers, after its announcement in March this year that it was ‘on the market’.
Fonterra has requested that the Australian Competition and Consumer Commission (ACCC) indicate whether it has any concerns that need addressing prior to a formal bid to acquire Dairy Farmers.
Dairy Farmers' CEO, Rob Gordon, said that other interested parties may initiate similar regulatory clearance processes in coming weeks.
“As stated previously, Dairy Farmers’ Board has requested interested bidders seek the necessary regulatory clearances, including ACCC reviews, prior to it formally assessing proposals,” Gordon said.
“Dairy Farmers’ Board will meticulously assess each of the available options before it puts a recommendation to its dairy farmer shareholders.”
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