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St George welcomes increased Westpac offer

by Staff Reporter6 minute read

St George today confirmed its unanimous support for revised merger terms with Westpac, which values the bank at $1.25 per share – a further 28 cents per share than originally offered.

St George chairman John Curtis said the board recommended shareholders vote in favour of the merger in absence of a superior offer.

“The revised merger terms recognise the contribution of St George to the strength of the combined organisation,” he said.

A final scheme meeting is expected to be held on 13 November.

Published: 08-09-08

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