ANZ’s Bid to Acquire Suncorp Bank Faces Regulatory Hurdles
The ambitious ANZ's bid to acquire Suncorp Bank has hit a roadblock after the Australian Competition and Consumer Commission (ACCC) rejected the $4.9 billion acquisition. ACCC expressed concerns that the merger would "further entrench an oligopoly" and result in reduced competition in home loans, agribusiness, and business banking in Queensland.
