ANZ wins appeal for A$4.9b Suncorp deal
ANZ chief Shayne Elliott hailed the deal but the market was less excited and marked down ANZ shares.
The deal will see ANZ boost its retail franchise with the addition of a A$55b mortgage book.
ANZ will proceed with the A$4.9 billion ($5.27m) acquisition of the banking arm of Queensland-based financial services Suncorp, after winning an appeal against a ruling by Australia’s competition regulator the ACCC.
The bank appealed the decision to the Australian Competition Tribunal, which
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