Directors of a customer-owned bank are under pressure for a vote on any takeover offer from a sharemarket-listed rival, in a deal worth potentially more than $60 million.
The push from a union for disclosure on any offer marks a twist in the long-running philosophical battles involving mutual institutions, which say their structure serves clients better than sharemarket-listed companies.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
