Westpac and St George talk Merger!

[Spectre]

boards agree to the merger....

http://au.news.yahoo.com/080512/2/16txu.html

 

[alexlee]

I wonder what's going to happen to the overlapping branches? More scope for other players like BoQ or BankWest to come in, perhaps?
Alex

 

[steveadl]

I wonder what's going to happen to the overlapping branches? More scope for other players like BoQ or BankWest to come in, perhaps?
Alex

I thought they were planning to keep the seperate brands, and therefore would still need the branches - even if they did double up in areas?

Although I guess they'll say what ever it takes to get it past the regulators.

 

[NorwegianBlue]

It'll be like when they acquired Bank of Melbourne... Run a separate "brand" then when enough time has elapsed quietly kill it.

 

[GreatPig]

she must have a great share portfolio from each too

According to a news report, today's 25% jump in St George's share price has increased the value of her shares by something like $6m.

A nice little earner for her.

GP