Market Chatter: Insurance Australia Group's RAC Deal in Western Australia at "Risk" Says Citi, The Australian Reports

MT Newswires Live

May 22

Insurance Australia Group's (ASX:IAG) acquisition of the Royal Automobile Club of Queensland (RACQ) was recently approved by the Australian Competition Regulator, but its other deal with RAC in Western Australia "involves greater risk" of being stopped, said Citi, according to The Australian in a Tuesday report.

The Australian Competition and Consumer Commission (ACCC) said it would not oppose Insurance Australia Group's (ASX: IAG) proposed acquisition of the Royal Automobile Club of Queensland (RACQ), according to a Thursday statement by the regulator.

The regulator found the proposed acquisition is unlikely to substantially lessen competition, as IAG lacks the market power to influence prices or supply terms. post-acquisition.

Citi said it is still optimistic about the upcoming transaction, but it saw "warning signs" in the judgment, the report added.

Citi has a buy rating on IAG with a price target of AU$10.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XAO.AU","symbol_name":"标普/澳交所 普通股指数","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2537499625","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2537499625","pubTimestamp":1747894302,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}