Marriage off but no sign of crisis

The National Mutual merger is off and the market is busy reassessing Lend Lease. But why bother? With 22 years of profit growth, they don’t have much to prove.

Recommendation
Marriage off but no sign of crisis
View company profile for LLC

Date 22 May 1998
Current Price $14.84

Buy
below
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up to
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above
Buy Hold Sell Meter

Apparently, unresolved concerns about the degree of influence the parent companies could have on the merged entity made the marriage untenable. But the breakdown isn't an indication of crisis.

Lend Lease Corporation is one of Australia's premier blue chip companies with 22 years of consecutive profit growth. Property and financial services may seem an odd mix but Lend Lease has made it a recipe for success. With 7,000 employees and operations in Australasia, Asia, Europe and the United States, the company has a market capitalisation of $9 billion. Operations include project management, property development, property investment services, funds and asset management, life insurance, facilities management, information technology and equity investments.

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