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Aug. 13, 2013, 3:49 AM
- Lloyds (LYG) has reportedly received offers for its asset-finance and commercial-lending units that value the businesses at over A$1B ($912M).
- Suitors that made preliminary bids include National Australia Bank, Westpac Banking (WBK), ANZ Banking, Commonwealth Bank of Australia (CBAUY.OB) and Macquarie Group (MCQEF.PK). Lloyds will probably cut the shortlist to three by the end of the month.
- The sale will continue Lloyds' strategy of streamlining its operations and help it plug a capital shortfall identified by U.K. regulators.
May. 31, 2013, 10:55 PM
Mar. 18, 2013, 11:49 AMThe slump in global commodities and spiraling costs have pummeled BHP Billiton (BHP -0.8%) over the past year, and the miner briefly lost its status today as the most valuable company on Australia's stock exchange in favor of Commonwealth Bank. Bank stocks have become more attractive, as a rising outlook for the domestic economy has perked up profits; bank shares now account for a record 30% of the ASX. | 4 Comments
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