Will Suncorp Shareholders Get Anz Shares. Big four bank news ANZ buys QLD Suncorp Bank for 4.9b — Australia’s leading news ANZ shares were largely flat in early trading on Friday, while Suncorp shares jumped by more than 4.5 per cent to $17.58 This approval paves the way for completion of the transaction, which was announced in July 2022, and follows approval from the Australian Competition Tribunal in February 2024 and the passing of legislation by the Queensland government in June 2024 to amend the Metway Merger Act.
Andrew Clark on LinkedIn Merger Approved ANZ Set to Acquire Suncorp Bank from www.linkedin.com
Suncorp and ANZ are targeting a completion date for the deal of July 31. The expectation is for ~$4.1bn to be returned to shareholders but the exact amount and special dividend details wont be known until the March quarter of 2025 according to SUN.
Andrew Clark on LinkedIn Merger Approved ANZ Set to Acquire Suncorp Bank
19 Sep 2024 - Shareholders in Suncorp (ASX:SUN) will soon vote on a massive multi-million dollar pre-Christmas present—the sale of their bank to ANZ for $4.9 billion ANZ Group Holdings Ltd shares are pushing higher on Friday morning Owners of Suncorp Group Ltd (ASX: SUN) shares will likely know of the $4.9bn sale of Suncorp Bank.
ANZ granted approval to acquire Suncorp’s bank Sharecafe. At the time of writing, the banking giant's shares are up 0.5% to $28.42 The capital return and accompanying share consolidation were approved by Shareholders at Suncorp's 2024 Annual General meeting held on 22 October 2024
ANZSuncorp Merger Gets Green Light. For ANZ shareholders, however, there will be a silver lining in the form of a blockbuster share buyback or special dividend, after it raised $3.5 billion of capital in 2022 to fund the acquisition. The capital return will be paid on 5 March 2025, and the fully franked special dividend will be paid alongside the interim ordinary dividend on 14 March 2025.