We've read all the media reports blah blah so I'll get straight to the point.
If St George's business is so solid and it has no bad-debt exposures than why isn't Westpac - or someone else - making a higher bid?
It's still a profitable bank and if it's not getting an offer over $40 then Westpac is basically getting a steal as SGB's record was $38.50 something last year.
I realise that SGB has to pay more for funding - but hey so do BOQ and BEN and you don't see them collapsing.
SGB deserves a higher bid, this merger is bs.
SGB Price at posting:
$31.88 Sentiment: Hold Disclosure: Held
