Considering the bank is valued around $5b and the article states there'll be a premium payable - let's assume Suncorp sells bank at par value then we should expect proceeds of $5b. I would expect the bank will retain some funds themselves but i'm guessing the lion's share will get distributed back to shareholders
Having said this i really hope SUN pursues a demerger option where we shareholders hold shares- in the structure Fin Review talked about - SUN shareholders will just get cash as ANZ will buy Bank outright (this means we won't benefit from all future endeavours).
The above is just my opinion based on speculative details available for public consumption only - please don't rely on my post for any investment purposes.
GLTA
SUN Price at posting:
$11.10 Sentiment: Hold Disclosure: Held
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