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Murray Goulburn issues new shares
1 Aug 2008
Higher feed costs and a reduced national herd will cut milk production in 2007-08 by 5 per cent said Murray-Goulburn in a letter to its dairy farmer shareholders. Murray-Goulburn is offering shareholders new shares for $1 as it seeks to raise $100 million. The Victorian co-op said it would not change its co-op structure if its joint bid with Parmalat for Dairy Farmers is successful. The ACCC raised competition concerns, particularly in the Queensland dairy market, about the Murray-Goulburn / Parmalat bid last week.
The Australian Financial Review, 01/08/2008
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