Only available link I could I could find at the moment:
https://www.businessspectator.com.au/article/2014/10/30/dataroom/dataroom-am-wesfarmers-weighs-amp
Good move for both I guess, Suncorp also mentioned as a takeover target.
"Giant conglomerate Wesfarmers has reportedly begun inquiries about the worth of AMP, tapping industry sources to get a handle on the true value of the $16.7 billion wealth management firm. While a deal is not seen as imminent, the WA-based suitor is believed desperate to get a foothold in the finance sector.
Adding to the speculation is news that Wesfarmers has dropped its push for a $150 million financial licence, in a potential sign of confidence in securing a licence via acquisition, while the recent divestment of its insurance business allays competition fears.
Suncorp is also rumoured to be in Wesfarmers sights, with a buyout of either firm to cost over $20bn once a takeover premium is factored in."
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Last
$70.33 |
Change
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Mkt cap ! $79.76B | |||
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