Remember as well ANZ wealth was bought on 25x earnings for $975m.
This is a massive multiple. It was roughly half financed by a capital raising and half financed by debt.
It only makes sense if the costs savings of $65m come true.
If the $65m of integration synergies do not come to fruition, then IOOF will have seriously over paid for the deal and in the future could be at risk of goodwill/intangible write down on its assets.
IOOF ifl strategic entry point, page-6
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$3.13 |
Change
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Mkt cap ! $1.703B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 67575 | $3.13 |
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| Price($) | Vol. | No. |
|---|---|---|
| $3.14 | 41225 | 6 |
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