Bank Of Western Australia Limited

By Intelligent Investor · 16 May 2003

By Intelligent Investor ·
16 May 2003

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Bank of Western Australia Limited - BWA

Current price

n/a

Price at review

$4.40 at (16 May 2003)

All Prices are in AUD ($)

In our last review of regional player BankWest (BWA - $4.40) we mentioned the possibility that majority owner, HBOS, would either sell out or mop up long suffering minorities. HBOS has decided on the latter. As a result the stock is up 25% since issue 124/Apr 03 (Hold while Unstable - $3.52).

Full details of the offer are not yet known but the price will be $4.25 a share and may include a fully-franked dividend component. HBOS has stated that it doesn't expect to slash jobs and is happy with current management.

The stock is currently trading at $4.40, a 4% premium to the offer price. With the small chance of a competing offer, investors should HOLD FOR THE UPSIDE.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

Bank Of Western Australia Limited

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Bank Of Western Australia Limited

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