Wayne weds Westpac and St George
Treasurer Wayne Swan has given his approval to Westpac’s proposed $18.6 billion takeover of St George.
Last night (October 23rd), he said that the move was in the national interest and would help to brace the country against strong financial headwinds.
“I didn’t take this decision lightly. It was taken after very careful consideration of all the issues,” he said.
Following the approval, St George’s chairman Ted Evans said that being taken under Westpac’s wing would help the brand to offer solid products and services during a period of considerable economic turbulence.
He concluded that it would help both banks to grow and provide the best service to customers.