Bega Cheese will sell its 18.8% stake in the Australian dairy producer, which would give Saputo 45.2% of Warrnambool, according to the report.
Saputo recently extended its offer period until 22 January 2014, declaring its unconditional all-cash takeover offer for all the issued shares in Warrnambool Cheese and Butter Factory Company Holdings Limited as its last and final offer.
Source: The Financial Post
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