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ANZ-Suncorp merger-block review to be disrupted by Bendigo Bank, following Australian judge's decision

By James Panichi ( August 29, 2023, 08:01 GMT | Insight) -- Australia’s Bendigo and Adelaide Bank has shoehorned its way into the review of the Australia and New Zealand Banking Group’s blocked acquisition of Suncorp Bank, with a judge today ruling that Bendigo Bank’s role as a potential rival bidder for Suncorp meant it deserved a seat at the table. In a hearing of the Australian Competition Tribunal today, Judge Michael O’Bryan said the prominence of Bendigo Bank in the contested counterfactual used by the competition regulator to justify its decision to block the $3.1 billion deal meant the regional lender should be heard.Bendigo and Adelaide Bank has shoehorned its way into the review of the Australia and New Zealand Banking Group’s blocked acquisition of Suncorp Bank, with an Australian judge today ruling that Bendigo Bank’s role as a potential rival bidder for Suncorp meant it deserved a seat at the table....

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