Canada's Saputo wins majority control of Australia's Warrnambool

SYDNEY, Jan 22 (Reuters) - Canada's Saputo Inc SAP.TO said on Wednesday it has secured majority control of Australia's Warrnambool Cheese and Butter Factory Co Holdings Ltd WCB.AX , putting pressure on rival bidder Murray Goulburn Co-operative Co to concede defeat.

Saputo said it had increased its shareholding in Australia's oldest dairy maker to 52.7 percent, giving it control after a months-long battle aimed at tapping growing demand in Asia for both traditional dairy products and high-tech milk extracts.

Murray Goulburn said it would "commercially assess" its 17.7 percent shareholding, noting that Saputo's offer rises to A$9.20 per share from the base A$9.00 per share, or A$515 million ($453.33 million), having reached the 50 percent threshold.

Saputo's offer will rise again to A$9.40 per share on 75 percent acceptances and A$9.60 per share, or A$537 million, on 90 percent acceptances. That top level puts it above Murray Goulburn's A$9.50 per share, or A$532 million, offer, but that is conditional on both acceptances of 50 percent and regulatory approval that is not due until next month. News Search ID:nL3N0JW0W7

Former rival bidder Bega Cheese Ltd BGA.AX gave Saputo's offer a leg-up last week when it sold its 18.8 percent stake to the Canadian company.

The Saputo offer, scheduled to close on Wednesday, is automatically extended to Feb. 4 after reaching the control threshold.

($1 = 1.1360 Australian dollars)

(Reporting by Maggie Lu Yueyang and Jane Wardell; Editing by Lisa Shumaker)

((maggie.luyueyang@thomsonreuters.com)(+61 2 93731819)(Reuters Messaging: maggie.luyueyang.thomsonreuters.com@reuters.net))

Keywords: AUSTRALIA SAPUTO/WARRNAMBOOL