Westpac offer gets backing
Westpac Banking Corporation’s offer to acquire the distribution business of RAMS Home Loans is looking promising after an Independent Experts Report deemed it to be in the best interests of RAMS shareholders.
The report, compiled by Deloitte Corporate Finance, assessed the distribution business’ hypothetical value in the range of $35.6 million to $167.5 million.
Westpac’s offer to acquire the business and brand is $140 million.
RAMS shareholders will vote on whether to approve the transaction at the end of November.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
