Westpac Banking Corporation - proposed acquisition of St George Bank Limited

Type of assessment

Informal Review

Reference

32010

Acquirer(s)

Westpac Banking Corporation

Target(s)

St George Bank Limited

Industry

Banking

Outcome of assessment

Not opposed

Total review days *

Commenced public review

2^nd June 2008

Date completed

13^th August 2008

Public competition assessment

Statement of issues

Review timeline

Date	Event
2^nd June 2008	ACCC commenced review under the Merger Review Process Guidelines.
23^rd June 2008	Closing date for submissions from interested parties.
23^rd July 2008	ACCC published a Statement of Issues outlining preliminary competition concerns.
30^th July 2008	Former proposed date for announcement of ACCC's findings, amended to allow for comments on the Statement of Issues.
6^th August 2008	Closing date for submissions relating to the Statement of Issues.
13^th August 2008	ACCC announced it would not oppose the proposed acquisition.

* Total Review days = Total business days less public holidays and time during which the review was suspended.

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