Bendigo and Adelaide Bank has assured the Australian Competition Tribunal it has both the desire and financial capacity to make a “compelling” offer for Suncorp Bank, backing the alternative deal relied upon by the ACCC when it blocked ANZ’s $4.9 billion offer.
Ahead of a nine-day tribunal hearing in Sydney that kicks off on Monday – in which ANZ and Suncorp are seeking to have the August ACCC decision overturned – Bendigo’s latest submission declares “there is a commercially realistic likelihood of a merger” between it and Suncorp Bank.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
