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The Bank of Queensland’s (BoQ) bid for a merger with Mackay Permanent Building Society (MPBS) remains strong as a counter proposal from Wide Bay Limited was dismissed by MPBS directors on Friday.
MPBS chief executive officer Bob Neely said: “MPBS’s directors do not support Wide Bay’s offer and unanimously recommend that, in the absence of a superior proposal, MPBS shareholders vote in favour of the BoQ merger proposal at the scheme meeting on 21 November 2007.”
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