Australia and New Zealand Banking Group has offered to buy insurer Suncorp Group's banking unit for around A$5 billion (US$3.40 billion), in what could be Australia's biggest banking deal in more than a decade, local media reported.
ANZ and Suncorp were locked in late-stage talks on the weekend, with the deal for Suncorp Bank expected to be announced on Monday (Jul 18) morning, the Australian Financial Review (AFR) said in a report on Sunday, citing sources involved in the talks.
