April 5, 2018 / 3:51 AM / 20 days ago

Murray Goulburn says shareholders approve $1 bln takeover by Saputo

SYDNEY, April 5 (Reuters) - Australia’s largest dairy processor Murray Goulburn said on Thursday its shareholders have approved a A$1.3 billion ($1.0 billion) sale of the company to Canada’s Saputo Inc.

Nearly 98 percent of Murray Goulburn shareholders voted to approve the sale, it said in a statement.

The deal that will establish the dominance of two international giants in Australia, the world’s third largest dairy exporter, amid intense competition to tap growing Asian demand. ($1 = 1.2992 Australian dollars) (Reporting by Colin Packham Editing by Muralikumar Anantharaman)

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