I'm not sure that's a likely outcome.
Suncorp's market cap is currently $20.40B. Banking arm getting sold for $3.20B still leaving a $17B+ sized company. I'm not sure that QBE with a current market cap of $26B would be looking to pull on a deal of that size in the current business and interest rate environment.
There's also ACCC considerations and whether they would let that deal happen.
It will be interesting to see the market reaction to SUN and what happens to the share price post the sale of the banking arm. I think expectations were that the sale was to be completed by the middle of this year?
Suncorp, page-2
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Last
$16.00 |
Change
-0.110(0.68%) |
Mkt cap ! $20.35B | |||
| Open | High | Low | Value | Volume |
| $16.01 | $16.07 | $15.90 | $36.42M | 2.279M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 62366 | $16.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.01 | 52 | 1 |
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| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$16.01 |
Change
-0.110 ( 0.95 %) |
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| Open | High | Low | Volume | ||
| $15.99 | $16.07 | $15.90 | 517251 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| SUN (ASX) Chart |