Speculation swirls in IOOF/MLC wealth play
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.
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