Chris Kelaher might have gone from IOOF, but the company’s penchant for a deal has not!
Street Talk can reveal that less than a year after acquiring ANZ Banking Group’s pensions and investments arm, IOOF is running the rule over National Australia Bank’s MLC Wealth.
It’s an ambitious move, although there are three reasons why IOOF thinks it can topple rival bidders.
Elsewhere, Zip Co was the talk of the market on Wednesday, stealing the thunder from buy now, pay later wannabe Flexigroup (soon to be humm, named after its payments platform, which was pitching a $140 million equity raising to shareholders).
Zip’s shares surged after it signed a deal with eBay – but it was the volume of stock traded that was astounding. The value of Zip shares traded was more than CBA, CSL, Fortescue or any other listed Australian company.
Finally, we take a look at Sydney Airport’s raising, with retail rights trading wrapping up on Wednesday. And there can be only one conclusion ...
Happy reading,
Sarah Thompson, Anthony Macdonald and Tim Boyd Street Talk Editors
