MGC 0.00% 43.0¢ mg unit trust

News: UPDATE 1-Australia's Murray Goulburn says no offer received for MG Unit Trust

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    Sept 21 (Reuters) - Murray Goulburn Co-operative, Australia's largest milk processor, said although there were several takeover proposals for the group, there was no offer valued at A$1.20 per unit for its listed entity MG Unit Trust (MGC) as reported by media.

    Murray Goulburn, reeling from an ill-fated Asian expansion, said on Aug. 22 that it was considering approaches from suitors who were interested in buying the cooperative as a whole or some of its assets.

    "MG confirms that it has received a number of confidential, non-binding indicative proposals. These proposals have ranged from the sale of certain assets to whole of company transactions," Murray Goulburn said in a statement on Thursday. [nASX8KpNJ6]

    The dairy processor also said it was engaging with a number of parties, along with its adviser Deutsche Bank, to assess the different proposals, but added there was no certainty that the offers would lead to any transaction.

    Shares in MG Unit Trust posted their biggest ever intraday percentage gain, soaring as much as 21.9 percent to a four-month high.

    The stock closed at A$0.885 on the Australian Stock Exchange.

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