There’s plenty of history in Soul Patts’ merger with Brickworks, but at the heart of the deal is a $2 billion prize that completes Soul Patts’ portfolio.
There was no shortage of nostalgia floating around Australian capital markets on Monday as Washington H Soul Pattinson announced their $14 billion merger with Brickworks, and the end of the cross-shareholding that has bound the two groups together for more than half a century.
But investors are a notoriously unsentimental lot and focus very quickly turned to the big question that surrounds this deal: why now?
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
