98% of Fonterra shareholders voted to sell the goose which laid the golden eggs and today is pay day. The average *tax-free* payment to shareholders is $400k.
Farmers voted for the sugar hit, disregarding the fact that the next time the milk price drops, Fonterra's consumer brands won't be there to cushion the shock because they're now owned by French company Lactalis.
Short term thinking is not much of a strategy.
If anyone knows why this sale of business assets for profit isn't taxed, I'd love to hear from you.
https://www.rnz.co.nz/news/country/592340/cashed-up-dairy-farmers-urged-to-spend-wisely








