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MyState Bank’s Proposed Acquisition of Auswide Bank Awaits Shareholder Approval
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MyState Bank’s Proposed Acquisition of Auswide Bank Awaits Shareholder Approval

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Invest with Confidence:

Mystate Limited ( (AU:MYS) ) just unveiled an update.

Auswide Bank Ltd has announced a pivotal update regarding the proposed acquisition by MyState Bank Limited, a subsidiary of MyState Limited, which intends to acquire all of Auswide’s fully paid ordinary shares through a scheme of arrangement. The approval of this scheme is contingent upon the Auswide shareholders’ vote at the upcoming meeting on February 3, 2025, and a subsequent court hearing scheduled for February 7, 2025. This acquisition, if approved, may significantly impact Auswide’s operations and market positioning by integrating with MyState, potentially offering expanded services and enhanced market reach.

More about Mystate Limited

Auswide Bank Ltd, listed on the ASX since 2015, is Australia’s tenth and Queensland’s third Australian-owned bank. Originally a building society since 1966, it holds an Australian Credit Licence and an Australian Financial Services Licence. Auswide provides a wide range of personal and business banking products through branches, strategic partnerships, and digital channels.

YTD Price Performance: -1.57%

Average Trading Volume: 169,635

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$487M

For an in-depth examination of MYS stock, go to TipRanks’ Stock Analysis page.

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