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SYDNEY (Reuters) - Australia's Competition Tribunal approved ANZ Group's A$4.9 billion ($3.2 billion) buyout of Suncorp's banking business on Tuesday, allowing the bank to press ahead the acquisition.
The takeover still requires approval by Australian Treasurer Jim Chalmers and a sign-off from the government of Queensland, where Suncorp is based.
Here is some reaction from financial markets:
AZIB KHAN, BANKING ANALYST AT E&P FINANCIAL:
"We expect completion of the acquisition to weigh on ANZ...
>>> Read more: Market reaction to approval for ANZ's buyout of Suncorp bank unit
The takeover still requires approval by Australian Treasurer Jim Chalmers and a sign-off from the government of Queensland, where Suncorp is based.
Here is some reaction from financial markets:
AZIB KHAN, BANKING ANALYST AT E&P FINANCIAL:
"We expect completion of the acquisition to weigh on ANZ...
>>> Read more: Market reaction to approval for ANZ's buyout of Suncorp bank unit
