some additional points
5) In 2010 MLC, under NAB, bought Aviva Australia for $825 million. Ioof Chairman worked for Aviva. Ioof bought 135 year old MLC operation for just $1.4bn – only $575m more than the Aviva Australia sale price a decade earlier …
https://www.theaustralian.com.au/business/financial-services/pursuit-of-happiness-why-ioof-went-big-on-mlc/news-story/0363697e4a09b3aa9a2297c4c75ef3fa
6) There were actually 3 private equity players who also bid on MLC - KKR, Platinum Equity and JC Flowers .
https://www.theaustralian.com.au/business/financial-services/giant-ioof-to-lift-its-game-after-mlc-buy/news-story/e635af4be79698d33cdf343c509786eb
Ann: IOOF Q2 2021 Business Update, page-47
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