Westpac ahead in race for Lloyds

DataRoom: Bids for Lloyds' Aust business, worth about $10bn, due Monday.

Westpac Banking Corporation (WBC) is the clear front-runner to buy Lloyds Banking Group Plc’s Australian business, worth about $10 billion, as local and foreign banks put together financing packages for multiple parties by the final bidding deadline of September 30.

“Westpac has a 90% chance of winning this deal,” says one senior banker. “It’s their deal to lose.”

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