Yes, I think that may well be the case. I had doubts when the merger was proposed, that it looked like a high concentration of brokers in one camp. Not sure how many brokers there are in Australia, but Connective had a network of 3600 and AFG 2975, according to the merger presentation. The merger was also subject to approval from ACCC.
Morgans Stockbroking were of a similar mind back in August 2019 when they advised "The broker believes the proposed merger with Connective remains unclear, with a high probability all necessary approvals will not be received."
Maybe acquisition isn't going through, page-2
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$1.66 |
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| No. | Vol. | Price($) |
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