Canadian dairy giant Saputo has lifted its stake in Warrnambool Cheese to 20.14 per cent. THE parties battling for Warrnambool Cheese and Butter (WCB) are still a long way off gaining control of the target, with the offer of one suitor set to expire on Friday evening, and the other suitor trapped in the regulatory process. Canadian dairy giant Saputo and Australian dairy co-operative Murray Goulburn remain in the fight for WCB, after Bega Cheese pulled out in December. Saputo's offer, which has been declared final, expires at 1900 AEDT on Friday, January 10, unless it is extended, but is favoured by the WCB board. Murray Goulburn's offer remains open until March 14, but its proposed acquisition of WCB still requires regulatory approval, and its offer has been rejected by the WCB board. Saputo on Thursday said its offer had received sufficient acceptances to lift its stake in WCB to 20.14 per cent. "Saputo is now the largest shareholder in Warrnambool Cheese and Butter, with acceptances continuing to flow in," a Saputo spokesperson said. But other parties also hold significant chunks of WCB shares, making it difficult for any party to achieve a stake of 50 per cent or more. Bega Cheese chairman Barry Irvin on Thursday said Bega was considering what to do with its holding in WCB. He said there was much interest in well-performing Australian dairy assets, and in Bega's stake in WCB. "We are contemplating what we might do with our stake," Mr Irvin told Sky Business. The tribunal is expected to complete its assessment of Murray Goulburn's application by February 28.