
Energy special, economy's big test & bank deal blocked!
Chanticleer
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The ACCC Blocks Suncorp's Merger With A&Z
The big four banks have to what is it, 75% of the market between them. So they've tried to bolt on Suncorp, which has an extra couple of percent. If we look at it, ANZ had a crack, right? Like the ACCC was always going to be a potential problem here. The board decided to call time on the bank and A&Z was there offering 1.3 times the net tangible asset value. That's like a 30% premium to what Bank of Queensland trades are at or Bendigo and Adelaide bank, the other regional banks.
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