Speculation swirls in IOOF/MLC wealth play

M&A trading halt IOOF mlc

31 August 2020
| By Mike |
image
image
expand image

The financial services industry is bracing today for confirmation of speculation that IOOF is making a bid for MLC’s wealth management businesses.

IOOF announced last week that it was entering a trading halt “pending an announcement in relation to a potential significant transaction”.

The speculation around IOOF’s interest in MLC’s financial planning businesses has come amid suggestions that some of the major private equity players examining acquisition of MLC are not as keenly attracted to wealth management as other parts of the business.

IOOF asked for the trading halt to remain in place until no later than today.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 5 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 3 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

5 days 23 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

5 days 3 hours ago