ACCC approves Westpac, St George merger
August 13, 2008
The competition watchdog says it won't oppose the proposed $18.2 billion takeover of St George Bank Ltd by Westpac Banking Corp.
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 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.
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 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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Australia's Westpac offers $14B for...
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...
Westpac approaches St George over merger
Westpac Banking Corporation has approached St George Bank about a proposed merger between the two.
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.
Australia's St. George agrees to Westpac takeover
St. George Bank Ltd., Australia's fifth-largest bank, agreed to a revised 17.3 billion Australian dollar ($14.4 billion) takeover proposal by larger rival Westpac Banking Corp. on Monday, in what would be the biggest banking acquisition in Australian history.
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...
Australia's Westpac bids $17.6...
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...
St. George Bank agrees to Westpac...
St. George Bank agreed Tuesday to a nearly 19 billion Australian dollar (US$18 billion; €12 billion) takeover offer from Westpac Banking Corp. that would create Australia's...
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.
Westpac approaches St. George in...
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...
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.
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.
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.
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 takes over Tongan operation
Westpac Banking Corp has bought the 40 per cent stake held by the Government of Tonga in Westpac Bank of Tonga for an undisclosed sum.
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.
Babcock CEO, Chairman Step Down
Babcock & Brown unveiled a major overhaul of its board and management but failed to stem the drop in its share price due to continued concerns about its financial position.
Westpac fault ends in payment chaos
TENS of thousands of people across the country missed out on their weekly pay, were overpaid, or had direct debit payments taken out twice yesterday after a computer malfunction...
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.