Yes if you are in there for the trade or short term you have/will lost/lose. But the purchase of Bankwest was a stroke of luck for long term shareholders as the price is a bargain....as you will see if you review yesterday's presentation pack. EPS accretive from the start with large potential for gains on rationalisation of back offices etc.
The raising of equity was a very conservative step and in my opinion designed to ensure the bank has options open for other opportunities. I think specifically of Suncorp where there are discussions going on. For shareholders in for anything but short term, it will be seen as a wise decision IMO.
regards DF
CBA Price at posting:
$41.36 Sentiment: None Disclosure: Not Held
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