Westpac, St George agree merger terms
May 13, 2008
Westpac and St George Bank have agreed the terms of a merger between the two which will result in a new bank with a capitalisation of $66 billion.
Westpac Banking Corporation and St George banks in merger talks
Westpac Banking Corporation, Australia's oldest company, is in talks with St George, a former building society, about merging to form a A$64 billion ($£31 billion) institution.
Westpac may have to boost $17.6 billion St George bid (Reuters)
Reuters - Westpac Banking Corp Ltd , which has bid $17.6 billion for St George Bank in the biggest banking takeover ever in Australia, is bracing for rival offers to emerge that could push the price tag even higher.
Westpac offer 'in the ball park'
Most analysts say Westpac's offer of $33.10 for each St George share is fair, but some are still hoping for more.
Westpac says Gail Kelly a 'great asset'
Westpac Banking Corp chairman Ted Evans says CEO Gail Kelly is a "great asset" as the company attempts to buy rival St George Bank.
Westpac, St George talk merger
Westpac enters merger talks with St George Bank to create Australia's largest home lending and wealth management provider.
BHP and Rio Tinto lead market higher
The Australian sharemarket closed higher yesterday, boosted by strong rises in global miners BHP Billiton and Rio Tinto.
Credit squeeze makes Dragon prey
The global credit squeeze and the higher cost of funding it has induced is the key that Westpac chairman Ted Evans hopes will unlock St George Bank.
Mega-bank in the making
Westpac enters merger talks with St George Bank to create Australia's largest home lending and wealth management provider.
Westpac and St George Bank mull £31bn merger
Westpac Banking Corporation, Australia’s oldest company, is in talks with a smaller rival to create a A$64 billion ($£31 billion) institution with a customer base equivalent to about half the size of the country’s population.
St George to recommend Westpac takeover
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Stalking the dragon
The story of the acquisition of St George begins on a fateful day last August when some startling news sparked the global credit crisis, writes Danny John.
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Westpac deal raises hopes of...
Reuters - The largest banking takeover in
Australia's corporate history has spurred investors to pile
into shares of smaller banks in the hope of a sector shake-out.
Westpac sticks with bid
Westpac will go ahead with its bid for St George Bank after completing due diligence.
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