Not that it needs to be off the record as its public record but…..

National Foods looks like it will now pay San Mig $17.8M after the board today backed Fonterra’s latest offer which came over the top of San Migs!

This probably doubled Nat Foods defence costs against a company that looks set to wind up taking it over.

Its probably fair to say that by the time its all over NFD will have spent nearly half last years PAT on defence costs this year (say 30M/68M) !

Keep up the great commentary

Adam

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