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ACCC give green light to Bendigo, Adelaide merger

ACCC give green light to Bendigo, Adelaide merger

(11 September 2007 – Australia) Bendigo Bank’s proposed A$2 billion takeover of Adelaide Bank has been given the go-ahead by the Australian Competition and Consumer Commission. Adelaide Bank chief executive Jamie McPhee said the ACCC’s announcement came less than a week after both companies successfully completed due diligence enquiries, and was another positive step in the right direction.

Adelaide Bank shareholders are expected to receive a scheme document in October, with a scheme meeting and final court hearing scheduled for November.

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