I'm a Suncorp holder primarily via Promina. It got me thinking the other day.
PMN was bought for $7.9B.
The banking business received an offer of around $3.5B last year.
The pre-Promina insurance holdings (e.g. GIO) and Wealth division have no recent reference point.
The current market cap of SUN is about $4.6B.
How would you break this up?
Ok old Promina, maybe $5B assuming a 35% over-payment.
Bank bit maybe $2.5B assuming a 28% over-offer.
Pre-Promina insurance, hand in the air $1B, same again for wealth.
What division is worth -$4B?
valuation scenario
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