Business News

ANZ’s $4.9 billion Suncorp takeover will now go ahead. Is the government sending mixed messages on business competition?

Written by John Quiggin, Professor, School of Economics, The University of Queensland

Two years after the deal was first announced, Treasurer Jim Chalmers has today given the green light for ANZ to acquire the banking arm of Queensland-based insurer Suncorp.

The A$4.9 billion deal will be the biggest in Australian banking since Westpac’s acquisition of St George in 2008.

It will of course be subject to some important enforceab...

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