Macquarie's $3.5 Billion Acquisition of a Sunk Hole Bank

A&Z raised $3.5 billion in capital to buy a sunk hole bank, but it's been sitting on that capital for the past 12 months. It could just invest that in cheaper products and incentivize brokers and pretty quickly pick up this market share anyway. But I don't think it would be able to close gap with cheap offers - you'd have to sustain that for many years. A&Z chief executive Shane Elliott has been the key proponent of this deal,. He'll want to take this to the competition tribunal and fight the good fight.