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The Bank of Queensland (BoQ) has announced it does not intend to increase its $53.2 million offer for Mackay Permanent Building Society (MPBS) despite Wide Bay’s counter bid Friday.
“BoQ takes a disciplined approach to its acquisition activity,” BoQ managing director David Liddy said.
“We put forward an attractive offer which delivered benefits to the shareholders of both BoQ and MPBS and reflected the value of MPBS to the group. We see no benefit to our shareholders of now increasing that offer,” he said.
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