Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Market Matters The Australian Competition Tribunal is expected to deliver a decision by February 20 on the sale of Suncorp bank to ANZ after SUN & ANZ appealed against the ACCC rejection of the sale. What market reaction would you expect on the stock price of ANZ and SUN (Market Matters hold ANZ) if the decision is upheld to deny the sale? and vice versa. regards Debbie
Hi Debbie,
The outcome is clearly uncertain and with both stocks trading strongly through 2024, it’s hard to know i.e. year-to-date ANZ Group (ANZ) +7% and Suncorp (SUN) +4.3%. Gut feel is that if the deal went through, SUN would pop more than ANZ and vice versa if it could not proceed. No deal would mean ANZ is flush with capital that could mean buy-backs or other capital management.
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