Long summer days: How BoQ swooped on ME Bank

BoQ’s George Frazis and Patrick Allaway used high pressure M&A tactics to steal their quarry from more fancied rivals ANZ and Bendigo Bank.

ME Bank was the magpie in Bank of Queensland’s Project Condor.

Sarah Thompson and Anthony Macdonald

Mar 31, 2021 – 10.00pm

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It was the end of January when Bank of Queensland chairman Patrick Allaway and CEO George Frazis lobbed a $1.325 billion bomb.

After cancelling Christmas holiday plans and working through the break, gunslingers Allaway and Frazis were ready to draw.

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Sarah ThompsonStreet Talk editorSarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Anthony MacdonaldColumnistAnthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.