"Broking analysts yesterday played down talk that National Australia
Bank was poised to sell a $1 billion stake in St George Bank and
reignite its British acquisition plans - amid renewed expectations of
corporate activity across the Australian financial services sector.
JP Morgan banking analyst Brian Johnson said he did not expect NAB to
sell its stake of just under 10 per cent in St George.
While he also did not expect St George to be taken over, he said a sale
of its stake by NAB would send a negative message to the market that it
was cashing up for a major acquisition"
(http://www.smh.com.au/articles/2003/07/03/1057179101406.html)
Q: Who's going to acquire SGB, with a yield of only 2.6%?
A: No-one, because you can buy SGBPB with a yield of 5.6% (same as SGB
*historical* eps)