Australia's Magellan Financial rises as competition regulator approves merger with Barrenjoey
12/06/2026 02:33
BUZZ-Australia's Magellan Financial rises as competition regulator approves merger with Barrenjoey ** Shares of Magellan Financial MFG.AX rise as much as 6.5% to A$9.64, their highest level since May 6
** Fund manager says Australian Competition and Consumer Commission (ACCC) determined that the merger between MFG and Barrenjoey Capital Partners may be put into effect
** MFG expects to complete the merger in early July
** Co intends to seek shareholder approval at AGM on October 22, 2026 to change its name to Barrenjoey Group Ltd
** Stock down 4.2% this year, including the day's move
(Reporting by Sherin Sunny in Bengaluru)
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