Thursday, 02 May 2024 13:00

Takeover bid?

Written by  Milking It
Takeover bid?

OPINION: Canterbury milk processor Synlait is showing no sign of bouncing back from its financial doldrums.

The listed company’s share price has dropped to 50c/share, valuing the company at only around $100 million. The share price has been travelling south despite the company working hard to sell off under-utilised assets and reduce debt.

Milking It reckons all this means a takeover bid could be around the corner. Watch out for Bright Dairy of China; it already owns 39% of Synlait and could easily fork out a couple hundred million to buy the company outright.

The Chinese know how to run successful dairy companies in NZ; just look at Westland Milk, which reported a record revenue of over $1b last financial year.

More like this

Science fiction

Science fiction

OPINION: Last week's announcement of Prime Minister’s new Science and Technology Advisory Council hasn’t gone down too well in the science community.

Bye bye Paris?

Bye bye Paris?

OPINION: At its recent annual general meeting, Federated Farmers’ Auckland province called for New Zealand to withdraw from the Paris Agreement on Climate Change.

What's going on?

OPINION: On the 2nd of May, Agriculture Minister Todd McClay announced that the 'government remains on track to ban full farm-to-forestry conversion'.

Cows down

OPINION: It's not happening as fast as the greenies would like - they actually want all livestock other than Muscovy ducks and Tibetan Llamas to disappear entirely - but it is happening.

Less hot air

OPINION: Farmers won't get any credit for this from the daily media, so Milking It is giving the bouquets where they’re due.

Popular Reads

back to top

Featured

NZ supports rules-based system

NZ supports rules-based system

Deputy Prime Minister Winston Peters often describes NZ as a small and isolated nation situated 'just north of the penguins' but says in terms of global affairs, NZ and other small nations should be judged on the quality of their arguments and not the size of their military.

NZ growers lead freshwater compliance

Horticulture New Zealand (HortNZ) says that commercial fruit and vegetable growers are getting ahead of freshwater farm plan regulations through its Growing Change project.

National

Top ag scientist to advise PM

A highly experienced agricultural scientist with specialist knowledge of the dairy sector is the Prime Minister's new Chief Science Advisor.

Machinery & Products

Hose runner saves time and effort

Hose runner saves time and effort

Rakaia-based equipment manufacturer Pluck’s Engineering will soon start production of a new machine designed to simplify the deployment and retrieval…

» Latest Print Issues Online

dairynewscover
ruralnewscover
winegrowercover

Visit archives

Milking It

Science fiction

OPINION: Last week's announcement of Prime Minister’s new Science and Technology Advisory Council hasn’t gone down too well in the…

Bye bye Paris?

OPINION: At its recent annual general meeting, Federated Farmers’ Auckland province called for New Zealand to withdraw from the Paris…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter