There was a lot of rubbish written in recent posts, so I started a new one.
It appears that BOQ is close to an agreement to purchase the ME Bank, which the market and commentators seem to think is a positive step.
Most likely, purchase by one of the big 4 banks would NOT have been approved by the ACCC because of a reduction in competition.
The purchase by BOQ would be funded by a combination of institutional placement and rights issue.
If the $650m figure for the rights issue is about right, that would equate to a 1 for 6 issue. Maybe at $8.20, by my guesstimate.
Purchase of ME Bank
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| Open | High | Low | Value | Volume |
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