Kiwis make dairy bid

NEW Zealand dairy titan Fonterra has confirmed it has made a bid for Australia’s biggest dairy processor, Murray Goulburn Cooperative.

It comes after investment bank Deutsche called for firstround bids for Melbournebased Murray Goulburn by Friday, September 15.

Fonterra Australia managing director Rene Dedoncker yesterday acknowledged the group was a bidder.

“The answer is yes, we have put forward a proposal,” Mr Dedoncker told ABC radio.

“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.”

News Corp reported last week that many dairy groups were believed to have made offers for Murray Goulburn, including A2 Milk, Fonterra, Saputo, Parmalat and Bega Cheese.

Also among them was Chinese dairy powerhouse Yili, which was said to have made a significant bid.

Mr Dedoncker was speaking after Fonterra yesterday reported an 11 per cent fall in fullyear profit.