Friday morning fun facts 1) IOOF ceo Renatos first job was in the M&A team of NAB when they first bought MLC.....doing diligence into MLC! MLC should be an easy integration for him
2) NAB paid 4.56b in Cash for MLC......since then they got about 2b for MLC's life divisoin.....so they invested c2.56b into MLC but IOOF has picked it up for just 1.4b. Ioof also in a statement said it expects synergies of c600m - of which 150m should come in F21!
3) 2 private equity company's were running the ruler over MLC but Ioof was able to outbid them as they had the synergies that the private equity companies didn't
4) KKR paid $1.7b in May 2020 for just 44% of Colonial first state ( to CBA)
Given the incredible share price weakness Ioof has had since then.....surely someone must be running the ruler on them?
IFL Price at posting:
$3.20 Sentiment: Buy Disclosure: Held
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