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ASB BUYS NOTES  |
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| (Updated 20/06/13 13:38) | ||
| GLOBAL DAIRY TRADE | |
| Change in GDT-TWI index +1.1% | Average Winning Price (USD/MT, FAS) 4,598 |
| From Trading Event 94 held 18/6 | |
By: Farming Show Staff | Rural News |
A mystery bidder is calling foul on Fonterra’s plan to buy New Zealand Dairies South Canterbury milk powder plant.
The anonymous bidder has lodged a complaint with the Commerce Commission, claiming it out-bid the dairy giant to acquire the factory.
"The receivers may have elected for other reasons not to pursue the offer but the perception that the Fonterra offer was the best is not correct and we request that this be corrected," the submission said.
"The Fonterra offer was clearly not the best offer on the table, but the receiver chose not to pursue other options and yet Fonterra claim not to have pursued the acquisition. This process should be investigated," it said.
Fonterra purchased the plant out of receivership in June after NZ Dairies Russian owner was declared bankrupt.
Related Subjects
fonterra | Commerce Commission |
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