Business Services Industry

Packer group in $5bn league.

Australasian Business Intelligence, June, 2007

Byline: Richard Gluyas

Jun 26, 2007 (The Australian - ABIX via COMTEX) -- Since early 2006, Challenger Financial Services Group has built its unlisted and listed funds from $A300 million to $A3.5 billion. CEO Mike Tilley has denied speculation of a merger between Challenger and Babcock & Brown or Westpac. Challenger's share price has climbed from $A3.66 at the start of 2007 to $A5.85 on 26 June. Challenger is seeking acquisitions in its own right in Japan, the US and Europe, particularly in property.

Publication Date: 27 June 2007

CHALLENGER FINANCIAL SERVICES GROUP LIMITED - ASX CGF

WESTPAC BANKING CORPORATION - ASX WBC

BABCOCK AND BROWN LIMITED - ASX BNB

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