Australian Regulator Blocks ANZ Group’s A$4.9 Billion Acquisition of Suncorp’s Banking Arm.

The Australian Competition and Consumer Commission (ACCC) dealt a significant blow to ANZ Group’s plans to acquire Suncorp’s banking arm for A$4.9 billion.

Both ANZ and Suncorp expressed disappointment with the ACCC’s decision and voiced their disagreement.

The blocked deal leaves ANZ without a clear path to bolstering its loan book.