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Business deals

Devondale dairy moves closer to sale after faltering in China

Murray Goulburn shareholders clear sale to Canada's Saputo over Yili and Kirin

A supermarket in Sydney. Murray Goulburn's Devondale brand of milk is popular in Australia.   © Reuters

SYDNEY -- Shareholders of Murray Goulburn Co-operative have approved a proposal to sell the company to Canadian competitor Saputo after missteps in China caused losses for Australia's largest dairy processor.

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