ANZ’s $3.2 Billion Suncorp Deal to Progress After Court Win (2)

ANZ Group Holdings Ltd. won its fight to overturn a competition watchdog decision to block its A$4.9 billion ($3.2 billion) purchase of Suncorp Group Ltd.’s banking arm.

The Australian Competition Tribunal announced its decision in the Federal Court in Sydney on Tuesday. It will now require final approval from the Queensland state government and Treasurer Jim Chalmers.

“This is a significant milestone and an important step forward in the process, however we still have further conditions to meet,” ANZ Chief Executive Officer Shayne Elliott said in a statement. “We strongly believe that the acquisition presents significant opportunities for ...