E*Trade looks past ANZ offer

There are doubts as to whether ANZ's hostile takeover bid for E*Trade will succeed. ANZ has until next Tuesday to decide whether it wants to extend its offer or vary any of the conditions. If no changes are made, the offer will lapse on 18 April. E*Trade has revived its search for a new CEO. Rival broker, IWL is continuing to hold talks with investors to see whether it has support to mount a rival takeover offer or propose an alliance.

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