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ABC News

Business

David Chau

Canadian dairy company buys Murray Goulburn for $1.3b

Murray Goulburn has been taken over by a Canadian company for $1.3 billion.

Australia's biggest milk processor Murray Goulburn has been taken over for $1.3 billion by Canadian dairy company Saputo.

This deal is set to be discussed at Murray Goulburn's annual general meeting this morning.

New Zealand-owned Fonterra was one of the unsuccessful bidders.

Bega Cheese pulled out of the race to buy Murray Goulburn on Thursday.

More to come.

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