The Commonwealth government will introduce a "responsible lending test" to the consumer credit code next year according to sources. Under the new rules, lenders.....
Westpac ready to fight off competitors 19 May 2008
Westpac has said that it would consider raising its bid for St George if a competing bid is received. Due diligence checks of each other's finances are currently under way and are due to be completed by Tuesday next week. Westpac chief Ted Evans said that while he believes that the takeover offer for St George is compelling, particularly with the operating model that has been proposed, it would consider increasing the current 1.31 for 1 share deal to ensure the success of the deal. Westpac issued a statement late yesterday to clarify that the offer made last week was not final, asserting its right to review the offer if circumstances warrant.
