The Australian company bidding for Tasmanian dairy farming giant Van Dieman's Land Company (VDL) is expected to make an announcement on its plans, today.
OnCard International, which is registered in Victoria – but with strong Tasmanian links - has previously announced it intends to make a $180 million bid for VDL.
Its shares have been suspended from trading, after it went into a trading halt last week, pending an announcement on its plans.
Shares in OnCard were trading at 30 cents, before it went into the halt.
OnCard, which intends to change its name to TasFoods at a special general meeting later this month, has made a non-binding offer for VDL and paid a substantial deposit.
OnCard’s Rob Woolley is connected to highly successful Tasmanian organic baby food company Bellamy's.
VDL posted a record $3.1 million profit this year, on the back of increased production.
It employs about 130 staff milking 18,000 cows.
