China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
St George Bank shareholders approve Westpac bid
SYDNEY (Reuters) - Shareholders in St. George Bank SGB.AX, Australia's fifth largest bank, approved on Thursday an around $9 billion takeover by rival Westpac Banking Corp (WBC.AX), in Australia's biggest ever banking takeover.
Over 94 percent of proxy votes at Thursday's extraordinary shareholders' meeting were in favor of the deal. Shareholder approval had been expected.
The deal would create Australia's second-largest bank with total assets of A$500 billion ($322 billion), behind National Australia Bank (NAB) (NAB.AX) with A$564.6 billion, according to Thomson Reuters data.
($1=1.551 Australian Dollar)
(Reporting by Mette Fraende)
