Last time this was tried on, BOQ launched a hostile takeover for BEN.
The reasons for doing it at the time were correct.
To create a larger stronger bank.
At the time the politics was all wrong.
David Liddy the CEO of BOQ would have assumed overall control.
This did not go down well with the BEN board.
The BEN board and then CEO Rob Hunt rejected the deal.
BEN then merged with Bank of Adelaide in what I consider an ill conceived hasty move to shore up BEN from further "threats" from BOQ.
Times have moved on:
Rob Hunt has retired as CEO of Bendigo Bank and David Liddy will retire as CEO of BOQ in the forseeable future.
So the politics for such a merger is now much more favourable.
Thev reasons for a merger have not changed.
It was correct previously and, post the GFC, is even more compelling now.
This possible merger, and the logic of doing so, has been "doing the rounds" for some time now.
If it ever does happen, it will be after friendly talks and mutually agreed terms.
This merger possiblity was raised by Charlie Aitken in his daily finance newsletter in the last day or so.
So will it happen ?
The reasons are right.
The timing is right.
The politics are right.
I think it is not a matter of "IF" but when.
Bring it on.
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