"closing date for the tender period has been extended to 7:00pm (Sydney time) on Friday, 11 February 2022, ... Westpac remains committed to buying back up to $3.5 billion worth of shares. Should the final Buy-Back demand be less than $3.5 billion, Westpac intends to commence an on-market buyback for the residual amount,"
I think WBC BOD have botched this again !
Do we really need the long delay until Feb 2022 and the ongoing uncertainty affecting the SP?
And if Buy-Back demand is less than expected, THEN they will simply buy on-market!
This whole fiasco could have been completed within weeks of the original announcement if they simply went for on on-market buyback from the start, and paid a special dividend to offload the franking credits.
Very frustrating.
WBC Price at posting:
$21.02 Sentiment: Hold Disclosure: Held
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