Australia's IOOF on trading halt ahead of 'significant' deal

Aug 27 (Reuters) - Trading in shares of IOOF Holdings IFL.AX were halted on Thursday as per the request of the Australian wealth manager which said it would make an announcement of a 'potential significant transaction'.

The Australian Financial Review reported on Wednesday that the company was making a bid to buy National Australia Bank's NAB.AX superannuation and wealth management arm, MLC Wealth, with a binding offer expected in coming weeks. (https://bit.ly/31BfWQx)

IOOF requested the Australian Securities Exchange to keep the trading halt in place until Aug. 31 or until it releases an announcement to the market, whichever came first.

(Reporting by Rashmi Ashok in Bengaluru; Editing by Muralikumar Anantharaman)

((Rashmi.Ashok@thomsonreuters.com; +918061822604;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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