St George on target for profit
August 11, 2008
St George is expected to reveal it remains on track to hit its revised profit target for 2008 financial year.
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 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 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.
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 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.
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.
All-cash rival bid for St George...
THE prospect of an international bank or an unlisted local rival making an all-cash bid to counter Westpac's $66 billion merger with St George Bank has receded sharply after...
St George has tough road ahead: JPMorgan
St George Bank has a far worse outlook than any of its peers, but is likely to talk up its prospects to attract a higher takeover bid, according to JPMorgan.
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.
Westpac beats gloom
WESTPAC yesterday ruled out any need to ration lending in the global credit crisis, revealing that it had so far escaped the worst of the domestic economic slowdown.
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.
Gloomy forecast for St George
St George Bank has a far worse outlook than any of its peers, JPMorgan says.
Westpac, St George talk merger
Westpac enters merger talks with St George Bank to create Australia's largest home lending and wealth management provider.
Dragon head not swayed by theories on...
The chief executive of St George Bank has denied his group's supposed financial weaknesses has made its merger with Westpac inevitable and necessary.
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 bid still of interest: St George
St George says it could reconcile the bullish nature of the operational update of its business with its recommendation of a takeover offer from Westpac.
St George on target for record profit
ST GEORGE Bank will see out what is increasingly looking like its last few months as an independent institution on the back of a record full-year profit.
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.
NAB still mulling St George bid
National Australia Bank chief executive John Stewart say his bank is looking over St George Bank before deciding whether to make a bid for it.
Westpac sticks with bid
Westpac will go ahead with its bid for St George Bank after completing due diligence.
Union questions bank merger benefits
The banking employees union has questioned a major benefit of the proposed merger of Westpac and St George banks.
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
Similar news about ANZ 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...
Issues over St G-Westpac merger: ACCC
The ACCC says competition issues have emerged from its initial inquiries into the proposed $16 billion takeover of St George Bank by Westpac Corp.