Dairy farmer support shown for takeover
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Most Illawarra dairy farmers appear to support the deal that will see the company Dairy Farmers purchased by Japanese owned National Foods.
National Foods has offered $5.65 a share, and milk suppliers are likely to get an additional one to two cents per litre.
While some have lamented the end of the cooperative era, most have welcomed the cash injection it will provide, enabling farmers to release some of their assets.
Lyn Strong from Clover Hill Dairies at Jamberoo says many south coast farmers could stand to benefit from the bid.
"For the younger farmers and those keen to stay in the business, the extra incentive of one to two cents a litre to re-sign contracts for a further two years is certainly a very attractive carrot," she said.
"For those people with large shareholdings the share offer of $5.65 certainly offers an attractive superannuation retirement package."
