Federal court approves regional bank merger
(19 November 2007 – Australia) The Federal Court of Australia has approved the merger between Bendigo Bank and Adelaide Bank.
This means the merger has received all the necessary legal, regulatory and shareholder rubber stamps.
Adelaide Bank shareholders gave their assent last week.
The court orders are expected to be lodged with ASIC on 20 November when Adelaide Bank's shares will be suspended from trading.
According to Bendigo Bank, securities to be issued to Adelaide Bank shareholders are expected to commence trading on a deferred settlement basis on 21 November 2007 and on a normal settlement basis on 5 December 2007.
Adelaide Bank shareholders gave their assent last week.
The court orders are expected to be lodged with ASIC on 20 November when Adelaide Bank's shares will be suspended from trading.
According to Bendigo Bank, securities to be issued to Adelaide Bank shareholders are expected to commence trading on a deferred settlement basis on 21 November 2007 and on a normal settlement basis on 5 December 2007.
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