For St George, Westpac is a dragon ‘not worth slaying’

ft.com     May 12, 2008            

Deals "don’t get much more opportunistic than this", says Lex of Monday's news that Australia’s Westpac Banking Corporation is in talks to buy smaller domestic rival St George in a move that would create the country’s largest bank with a market value of about A$65bn ($61bn). Even though it is... [read full story]                    

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Big banking merger touted in Australia

earthtimes.org     May 12, 2008          

Sydney - Westpac Banking Corporation, one of Australia's Big Four high street banks, is in merger talks with fifth-placed St George Bank, and a marriage would create Australia's largest financial services company, Westpac said Monday. Shares of both ...                    

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Australia's Westpac bids for St. George

ibtimes.com     May 12, 2008          

Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; euro9 billion) takeover offer that could be the biggest shakeup of Australia's bank sector in years. ... The deal would create Australia's...                    

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Westpac approaches St. George in major shakeup of Australian bank sector

iht.com     May 12, 2008          

Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; €9 billion) takeover offer that could be the biggest shakeup of Australia's bank sector in years. ... The deal would create Australia's...                    

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Westpac approaches St. George in major shakeup of Australian bank sector

tmcnet.com     May 11, 2008          

Westpac approaches St. George in major shakeup of Australian bank sector ... SYDNEY, Australia_Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; ?9 billion) takeover offer that could be the...                    

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Westpac bids for St. George in big Australian bank deal

marketwatch.com     May 12, 2008          

SYDNEY (MarketWatch) -- Australia's Westpac Banking Corp. (WBK) said Monday it has approached rival lender St. George Bank Ltd. (SGB.AU) with a takeover offer, which would likely value the target at more than A$15 billion and mark the biggest shakeup of the Australian banking sector in many years.                    

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Westpac approaches St. George in possible shake-up of Australia's bank sector

tmcnet.com     May 12, 2008          

Westpac approaches St. George in possible shake-up of Australia's bank sector ... SYDNEY, Australia_Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; ?9 billion) takeover offer that could be...                    

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Westpac Aims To Buy Way To Top In Australia

forbes.com     May 12, 2008          

Bank says it's in talks to acquire smaller rival St. George, making it biggest in country by market cap. ... Westpac is attempting to capitalize on the pounding shares of St. George have taken to take the pole position in the Australian banking sector. Australia's...                    

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Westpac approaches St. George in possible shake-up of Australia's bank sector

iht.com     May 12, 2008          

Westpac Banking Corp. said Monday it has approached rival St. George Bank Ltd. with a 15 billion Australian dollars (US$14 billion; €9 billion) takeover offer that could be the biggest shake-up of Australia's bank sector in years. ... The deal would create Australia's...                    

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Crikey - Rudd should block Westpac and St George love-in

newsvine.com     May 12, 2008          

Westpac and St George have gone into a trading half this morning as new Westpac CEO Gail Kelly attempts to hammer out a friendly takeover of the bank she ran for five years until defecting last year. ... Kelly has only been running Westpac since February 1 and is now...                    

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Big banking merger touted in Australia - Summary

earthtimes.org     May 12, 2008          

Sydney - Westpac Banking Corporation, one of Australia's Big Four high street banks, has proposed a merger with fifth-placed St George Bank that would create Australia's largest financial services company. The banks placed their shares in a trading h...                    

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