Federal Treasurer Jim Chalmers is the last hurdle for ANZ to overcome in finalising its $4.9 billion takeover of Suncorp’s banking business, after Queensland’s parliament changed laws allowing the deal to proceed late on Friday.
Financial Sector Union president Wendy Streets said the union was against industry consolidation that may hurt competition, but “given the regulators and the appeal process, we don’t think the treasurer has much room to move on approving this one”.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
