Westpac offer gets backing
Westpac Banking Corporation’s offer to acquire the distribution business of RAMS Home Loans is looking promising after an Independent Experts Report deemed it to be in the best interests of RAMS shareholders.
The report, compiled by Deloitte Corporate Finance, assessed the distribution business’ hypothetical value in the range of $35.6 million to $167.5 million.
Westpac’s offer to acquire the business and brand is $140 million.
RAMS shareholders will vote on whether to approve the transaction at the end of November.
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