This would be true if they hadn't already executed a diluting capital raise. An ACCC rejection would definitely knock down the share, seeing as the people who invested in the raise, would be basically buying into a smaller diluted business, and the current owners would have been diluted for absolutely no reason.
They can execute a buyback, but a buyback isn't free, and they'll have wasted millions in fees for the raise and merger.
That said, I don't see any reason the ACCC knocks this back, they're far from becoming an overly dominant player in any of the spaces. AMP, Aware Super for example lead their areas even post merger.
IFL Price at posting:
$3.00 Sentiment: Buy Disclosure: Held
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