The wealth giant’s shares are in a trading halt as it prepares a capital raise, with rumours swirling that it is set to acquire MLC.
IOOF has requested an extension to the trading halt for the purpose of considering, planning and executing a capital raising, which will comprise an institutional placement, an accelerated non-renounceable entitlement offer and a share purchase plan. IOOF went into a trading halt on Friday pending an announcement in relation to a "potential significant transaction".
Media reports indicate IOOF could be preparing to purchase MLC.
More to come.
Shareholders have voted in favour of advisory and insurance giants Aon and Willis Towers Watson consolidating, with the merger expected to c...