Disappointed, no doubt. But for management to stop a deal, knowing this would be the outcome and how it would look, they must have great reasons and be SUPER confident in what they have and the future. Yes, I want deals, but I also want the right ones.
When you're a spec starting out and negotiating with the big boys, of course they're going to try and push you around. Of course NAB is going to want exclusivity over AMP, CBA etc. They would be negligent if they didn't try to get it.
Good on them for standing their ground, knowing what the outcome today would be.
In the end of the day - they have seen the goods, will be back if they can see the benefits, exclusivity or not. The cost pressures are still there, and aren't going away any time soon.
Ann: Market Update, page-186
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