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Magellan Financial Group Advances Full Acquisition of Barrenjoey with Strong Market Backing
10:02am on Friday 10th of April, 2026 AEST
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Financial Services
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Magellan Financial Group Advances Full Acquisition of Barrenjoey with Strong Market Backing
10:02am on Friday 10th of April, 2026 AEST
Key Points
Magellan proposes to acquire remaining Barrenjoey shares, increasing ownership to 100%
Transaction values Barrenjoey at about A$1.616 billion with implied P/E multiples below peers
Recent incremental 10% stake acquired via $130 million placement and $20 million SPP
Merger expected to create a diversified financial services group with complementary capabilities
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