Warrnambool CEO Says Stalemate Possible in Cheese M&A Tussle

Warrnambool Cheese & Butter Factory Co., the Australian target of a two-way takeover battle, says a stalemate is possible between rival suitors for the nation’s oldest dairy producer.

“The prospect of a stalemate is a possibility,” Warrnambool Chief Executive Officer David Lord said today in a phone interview. “If in the future we ended up with a share register, which was altered in a major way and we had a number of major, large shareholders, then we would continue to manage the business in the interests of all the shareholders.”