Business
BoQ to buy ME for $1.33b, ramping up competition with big four – Sydney Morning Herald
BoQ chairman Patrick Allaway says the deal is major step in its plan to be the leading “customer-centric” alternative to industry giants Commonwealth Bank, Westpac,…
The combination of our highly complementary businesses brings together two organisations with a shared purpose and values generating greater value for customers, employees and shareholders.
ME Bank, a mortgage lender owned by 26 industry super funds that was launched in the 1990s, said its shareholders had unanimously supported the deal, arguing the two banks were a natural fit together.
The deal is priced at 1.05 times MEs book value, and 11.9 times MEs underlying profits.Credit:Ken Irwin
ME chairman…
-
General19 hours agoFootballers and movie stars: PM’s Shanghai tourism push
-
Business17 hours agoThis artificial intelligence (AI) and “Magnificent Seven” stock will be the next company to surpass a $3 trillion market cap by the end of 2025
-
General16 hours ago‘Hidden and radical’ power of First Nations women unlocked in big hART’s Punkaliyarra project
-
General18 hours agoWest Indies-Australia live: Third day-night Test in Jamaica