Australian company Warrnambool Cheese and Butter could be taken over by rival milk processor Murray Goulburn.

The co-operative has revealed that Murray Goulburn was one of two firms to show an interest late last year.
Murray Goulburn, which has a factory at Koroit is likely to face opposition from WCB, although chief executive John McLean has left the door open for a lucrative offer.
The chairman of Murray Goulburn, Grant Davies, has issued a number of assurances if the deal was given the go ahead.
He has vowed to keep the company’s Allansford factory, streamline the company’s milk collection, maintain the Sungold brand and make WCB suppliers members of its co-operative.
But WCB hit back by stating that south-west dairy farmers wanted an independent third force in milk collection in the region to keep the industry competitive.
They also claim that WCB shareholders were