Will Suncorp Shareholders Get Anz Shares. Suncorp’s ANZ proceeds first quarter 2025 The Australian The Suncorp share price has fallen 8% since it and ANZ announced the $4.9 billion plan for. At the time of writing, the banking giant's shares are up 0.5% to $28.42
ANZ SUNCORP MERGER STOCK, People walk past an ANZ storefront in Sydney, Tuesday, February from www.imago-images.com
The expectation is for ~$4.1bn to be returned to shareholders but the exact amount and special dividend details wont be known until the March quarter of 2025 according to SUN. However, the proceeds wont be delivered to shareholders until 2025
ANZ SUNCORP MERGER STOCK, People walk past an ANZ storefront in Sydney, Tuesday, February
The capital return and accompanying share consolidation were approved by Shareholders at Suncorp's 2024 Annual General meeting held on 22 October 2024 For ANZ shareholders, however, there will be a silver lining in the form of a blockbuster share buyback or special dividend, after it raised $3.5 billion of capital in 2022 to fund the acquisition. This approval paves the way for completion of the transaction, which was announced in July 2022, and follows approval from the Australian Competition Tribunal in February 2024 and the passing of legislation by the Queensland government in June 2024 to amend the Metway Merger Act.
ANZSuncorp merger Bendigo & Adelaide alternative maligned as shareholders signal preference. Suncorp and ANZ are targeting a completion date for the deal of July 31. Owners of Suncorp Group Ltd (ASX: SUN) shares will likely know of the $4.9bn sale of Suncorp Bank.
ANZ takeover of Suncorp Treasurer Jim Chalmers gives final approval for major bank. Suncorp Group CEO Steve Johnston said the completion of the sale was a significant strategic milestone and enabled Suncorp as a dedicated insurer to sharpen its focus on the way it delivered insurance to its customers and value for shareholders. This approval paves the way for completion of the transaction, which was announced in July 2022, and follows approval from the Australian Competition Tribunal in February 2024 and the passing of legislation by the Queensland government in June 2024 to amend the Metway Merger Act.