Fonterra's destruction of value continues

Fonterra's destruction of value continues
Farmers are like lemmings following Fonterra over a cliff. (Image: iStock)
Jenny Ruth
Castalia's report on Fonterra's restructuring may not be the cause, but since it became public in April, the value of Fonterra shares has dropped a further $1.1 billion, taking the total value lost since the restructuring was announced to $3.68b.While Fonterra pushed back against the Castalia report, focusing on its valuation of the shares at between $1.79 and $2.32 after the restructuring and calling this misleading, the share price is now within that range, closing on Friday at $2.28 after touching $2.22 earlier in the week.At that pr...

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