Ann: Competing Proposal received, page-24

check this - From AFR
The Financial Review last month revealed First State lost close to $400 million on its blockbuster $1.1 billion takeover of StatePlus in three years, before last year stripping the planning business of its assets and integrating the operations of the unlisted investment into its own business, after the private equity-style play failed to generate sufficient earnings and following a $100 million-plus fee-for-no-service scandal.