SYDNEY: Britain's fifth largest bank HBOS Plc unveiled a A$1.04bil plan to buy the rest of its half-owned Bank of Western Australia Ltd (BankWest) yesterday – a move that analysts said could presage a sale of the whole unit.
HBOS is offering A$4.25 a share in cash to mop up the remaining 43% of shares in the Australian regional bank, which has been struggling with bad loans.
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