How Westpac sealed the $1.45 bn deal

Westpac called in UBS and Gilbert Tobin to help it acquire Lloyds’ Australian business, beating out the competition with a bid of $1.45 billion.

When a deal needs to be done, it helps if all the parties know each other.

The seeds of Westpac Banking Corp’s success at seeing off its biggest domestic rivals to acquire Lloyds Banking Group Plc’s Australian business were planted long ago.


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