Merger talks fail?, page-6

the merger talks were at start of year and were canned by Suncorp because they knew they had the better book of business and SUN md didnt want to have to fight to retain his job.

these arent rumours - both groups have confirmed talks took place.

BOQ/Grimshaw wanted it as a way to add growth and gloss over their inability to grow earnings at anything like the rate that BEN and the big 4 have been doing.

Thats why Grimshaw left - rather than have to face the disappointment that will be in the October full year numbers.

Its not that BOQ is a failure - it just concistently fails to generate returns as good as any of the peers.
Grimshaw still did a decent job - though really the performance of BOQ shares have very little to do with him.

Its more been because they are the worst house on the best street when people wnated bank yield and some exposure to growth.

I also suspect the Investec acquisition probably hasnt yet delivered any material improvements to BOQ - which is something that could have become an albatross around Grimshaw's kneck if he stayed around.

Though that last point is only a surmise.

This is a stock I would stay clear of until after the upcoming market correct early next year.

Lot of headwinds - currency, results soon, bank shares stretched and so struggling to get ahead

The only reason to hold would be for any potential special dividend in my view - or perhaps when the currency finds a new base - Japanese investors might like this stock if they are happy currency has stabilised.