IAG Bull Says Any Merger Progress Is a Year Away -- Market Talk

Dow Jones12-11

0030 GMT - Insurance Australia Group's bull at Citi thinks that its acquisition of RACI could still proceed, but at least a year later than previously planned. With Australia's competition regulator having blocked the acquisition, analyst Nigel Pittaway says that IAG's renewed application under fresh takeover rules will need to be rejected before the ASX-listed insurer can ask for an assessment on the grounds of public benefit. This could ultimately succeed, but the complex process delays an outcome by about 12 months, he says. The outcome is uncertain, Pittaway adds. Citi has a buy rating and A$10.00 target price on the stock, which is down 0.3% at A$7.815. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

December 10, 2025 19:30 ET (00:30 GMT)

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This could ultimately succeed, but the complex process delays an outcome by about 12 months, he says. The outcome is uncertain, Pittaway adds. Citi has a buy rating and A$10.00 target price on the stock, which is down 0.3% at A$7.815. 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With Australia's competition regulator having blocked the acquisition, analyst Nigel Pittaway says that IAG's renewed application under fresh takeover rules will need to be rejected before the ASX-listed insurer can ask for an assessment on the grounds of public benefit. This could ultimately succeed, but the complex process delays an outcome by about 12 months, he says. The outcome is uncertain, Pittaway adds. Citi has a buy rating and A$10.00 target price on the stock, which is down 0.3% at A$7.815. 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This could ultimately succeed, but the complex process delays an outcome by about 12 months, he says. The outcome is uncertain, Pittaway adds. Citi has a buy rating and A$10.00 target price on the stock, which is down 0.3% at A$7.815. 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