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Article: Big players get bigger. (National Australia Bank's acquisition of BHP Co. Ltd.)
- Article from:
- The Banker
- Article date:
- December 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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National Australia Bank has overtaken BHP as Australia's biggest corporation. In an environment of increasing competition in financial services, Mark Westfield in Sydney writes that further rationalisation looks likely
A mid the recent global share market turmoil triggered by Asia s currency and share collapses, Australia's largest company for the past 14 years, BHP Co Ltd, was toppled by National Australia Bank.
The gradual closing of the gap between the two companies' market capitalisation in recent years meant the change at the top was probably inevitable. In the end, however, it happened with remarkable speed. A poor 1997 result followed by high-level ...