NAB won't rule out St George bid
May 14, 2008
NAB chief John Stewart is eyeing the negotiations between Westpac and St George closely, but analysts say a counterbid may be costly.
Australia's Westpac offers $14B for bank rival St. George
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a $14 billion takeover offer that could lead to the biggest shakeup of Australia's banking sector in years.
Westpac approaches St. George in major shakeup of Australian bank sector
Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; €9 billion) takeover offer that could be the biggest shakeup of Australia's bank sector in years.
Westpac momentum tipped to continue
Analysts say Westpac Banking Corporation Ltd is a "safe haven" in the finance sector and are tipping its strong profit momentum to continue.
Westpac cash profit expected to rise
Westpac Banking Corporation is expected to sidestep the bad debt troubles faced by the ANZ Bank and report a healthy rise in first-half cash profit.
Westpac expect 8% cash earnings growth
Westpac Banking Corporation says it is on track to deliver 2008 cash earnings growth of between six and eight per cent.
Australia's Westpac bank posts 34...
Westpac Banking Corp. Ltd. on Thursday announced a 34 percent rise in net profit over the last six months as a strong local economy fueled sustained demand for credit.
Westpac raises mortgage rates again
Westpac Banking Corp has become the third bank in less than a week to raise its variable mortgage rates independently of the central bank.
Australia's Commonwealth Bank eyeing...
Reuters - Commonwealth Bank of Australia (CBA)
, the country's No. 2 bank by assets, may offer over
A$6 billion ($5.2 billion) to British bank HBOS for
its Australian unit...
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.
Australia's Westpac bids $17.6 billion for St George (Reuters)
Reuters - Westpac Banking Corp Ltd launched a $17.6 billion all-share bid for smaller rival St George Bank Ltd in a tie-up that would create Australia's biggest bank by market value.
Australia's St. George Bank agrees to...
St. George Bank on Tuesday agreed to an 18.6 billion Australian dollar ($17.5 billion) takeover offer from Westpac Banking Corp. that would create Australia's biggest bank and...
Market dips as Tabcorp, Tatts slump
Australian shares fell 0.5%, as Tabcorp and Tatts Group tumble on the loss of a key market for their slot machines.
Investors await surprises in Westpac...
Investors will be watching for surprises when Westpac releases its half year results, a week after ANZ Bank revealed nearly $1 billion in provisions against potential losses.
04/30/08
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Westpac to raise $600m from new issue
Westpac Banking Corp plans to raise $600 million from the sale of new Tier 1 hybrid securities in the domestic market.
ASX high at noon as Wall St soars
The Australian stock market was up at noon as News Corporation Ltd reported robust fourth-quarter and full-year results.
08/06/08
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Babcock in Tricom recapitalisation
Investment bank Babcock & Brown says it has joined ANZ Banking Group in the recapitalisation of troubled stockbroking firm Tricom Equities.
04/08/08
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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.
St. George agrees to Westpac takeover
Westpac Banking Corp. and smaller rival St. George agreed to a takeover deal Tuesday worth 18.6 billion Australian dollars ($17.5 billion) that would create Australia's biggest bank by market capitalization.
Fortescue chair loses $20m in Opes saga
Fortescue Metals Group chairman Herb Elliott appears to have lost more than half of his $38 million fortune after the Opes Prime collapse.
Westpac and St George Bank mull...
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...
Westpac may bid higher for St. George
Westpac Banking Corp Ltd WBC.AX
Westpac Bid Deserves Closer Look
Westpac Banking's $18.1 billion bid for St. George Bank would create a powerhouse that has some analysts taking a good look at Westpac's stock.
St George to recommend Westpac takeover
St George Bank's board will recommend to its shareholders Westpac Banking Corporation's $19b takeover after the two lenders signed an implementation agreement.
ANZ Bank pipped in Hong Kong bank bid
China Merchants Bank pips ANZ Bank as the preferred bidder for Hong Kong's Wing Lung Bank.
05/23/08
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