Judge to deliver decision on TSB-Heartland merger challenge
A High Court judge will rule on whether to block Heartland's proposed takeover of TSB Bank, which Taranaki locals are challenging.
A judge has reserved a decision following a High Court hearing on an injunction to stop Heartland Group's proposed acquisition of TSB Bank. The challenge was brought by a group including a former TSB chairwoman seeking to block Toi Foundation's plan to sell the Taranaki community bank to Heartland. Heartland has said the deal remains on track to complete by December. Separately, the Government has indicated it will consider a merger or acquisition proposal from Kiwi Group Capital involving Kiwibank.
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What outlets are saying
BusinessDesk
Government will consider strong Kiwibank merger proposal: Willis
Finance Minister Nicola Willis says the Government will consider a strong commercial proposal from Kiwi Group Capital for a merger or acquisition to grow Kiwibank. Willis, who was responding to questions from BusinessDesk, didn’t directly reference Kiwi Group Capital’s (KGC)…
BusinessDesk
TSB merger 'on track', Heartland says
As the High Court hears a challenge against Heartland’s proposed takeover of TSB, the banking group has told shareholders it is still on track to complete the deal by December. A group headed by a former TSB chairwoman is taking…
NZ Herald
Taranaki locals’ opposition to TSB-Heartland merger heard in court; Judge’s decision to be unveiled on Tuesday
Judge's decision to become public on Tuesday.
interest.co.nz
Judge reserves decision following injunction hearing to block TSB sale
Justice Andru Isac reserves decision as Taranaki community group tries to block proposed sale of TSB to Heartland Group
interest.co.nz
‘It is an absolutely huge market’: Heartland plans for reverse mortgage expansion
Heartland CEO Andrew Dixson says if the proposed TSB deal goes through, Heartland will continue to keep its focus on reverse mortgages front and centre as the group wants to capture 'as much of that market as we can'