KPMG tick for MG bid

AN independent expert says Canadian dairy giant Saputo’s proposed $1.3 billion takeover of troubled Australian dairy processor Murray Goulburn is fair and reasonable.

KPMG says the proposed transaction is in the best interest of Murray Goulburn’s suppliers and unit holders because it preserves Murray Goulburn’s assets from deterioration.

Murray Goulburn announced yesterday that Murray Goulburn shareholders would meet on April 5 to consider the proposed sale to Saputo.