Australia's St. George recommends Westpac offer
SYDNEY, Sept 8 (Reuters) - Australia's St George Bank (SGB.AX: Quote, Profile, Research, Stock Buzz) said on Monday it is recommending a takeover offer from Westpac Banking Corp (WBC.AX: Quote, Profile, Research, Stock Buzz).
It said St George shareholders would get a special dividend of up to A$1.25 per share.
The bank said an independent expert sees the offer from Westpac, Australia's fourth-largest lender, as fair and reasonable.
Westpac is offering 1.31 of its shares per St George share.
(Reporting by Mette Fraende)
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