Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

DFNZ Backs Revised Bid

2 March 2005

DFNZ Backs Revised Bid

Dairy farmers fully support Fonterra Co-operative Group's revised offer for Australia's National Foods, said Kevin Wooding, Chairman of Dairy Farmers of New Zealand (DFNZ).

"The $A6/A$6.20 a share bid appears to be a very attractive price and shareholders would be wise to accept," Mr Wooding said.

"Dairy farmers have confidence in Fonterra's board, management, and advisers to make the right decisions for the long-term benefit of Fonterra. These benefits in turn will flow to its dairy farmer owners," Mr Wooding said.

Fonterra is owned by about 12,000 farmer suppliers, most of which are members of DFNZ, an industry group of Federated Farmers of New Zealand (Inc).

"Fonterra's board knows that there are very large amounts of shareholders' money at stake in the purchase of National Foods. They must at all times remember that further down the track, there has to be a dollar in it for shareholders."

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>