According to the Australian Financial Review, the co-op will use its credentials as a friendly business to give it the edge over the rival offers from the alliance of National Foods and Warrnambool Cheese and Butter, and the Canadian day group Saputo.

However, Murray Goulburn is refusing to comment on the reports of its solo bid.

Murray Goulburn is owned by about 2500 farmer shareholders, produces about 35pc of Australia's white milk supplies and has annual revenues of $2.2 billion.