Their is drive for consolidation in the wealth management industry. Given the recent mergers, IFL history/reputation and its scale (to 10 independent player). The recent mergers are proving very successful particular with cost savings which helps make the business look more enticing- ANZ has cash to spend and has flagged intention of making an acquisition in this wealth management area.
Factors against ANZ takeover are complexity taking over multiple businesses/platforms and dealing with key executives in the Perennial business. The recent mergers are still being integrated which increases the risk and complexity of an acquisition. Ultimately Perennial might be a too hard basket from ANZ.
just some random thoughts. i do like this company thou!!
IFL Price at posting:
$6.94 Sentiment: LT Buy Disclosure: Held
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