San Miguel muscles in on National Foods

The Philippines food and beverage giant beats NZ''s Fonterra to the A$1.9 billion acquisition of Australia''s largest publicly listed dairy company.

San Miguel has ended a six-month battle for control of Australian dairy company National Foods Limited by pushing the other bidder, New Zealand's Fonterra, out of the game. On Monday, National Food's managing director, Peter Margin, compelled shareholders to accept the offer of A$6.40 per share saying the company had been through considerable uncertainty during the bid process. Shareholders have until April 29 to accept the offer.

If the deal goes ahead, San Miguel will pay...

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