National Australia Bank has refused to rule out making a bid to snatch St George from under Westpac's nose. NAB chief executive John Stewart said yesterday that options were being investigated in relation to St George. "We look at all opportunities and in due course we will look at this transaction, but just now we're literally on the sidelines watching with interest what happens," he told The Australian newspaper. Analysts believe that a rival bid is unlikely, with ANZ more focussed on expanding in Asia and NAB rolling out elements of its British business model in Australia.
