TelstraSuper pulls plug on Equip merger, citing member interests

InvestorDaily

In a statement on Wednesday, TelstraSuper’s board said it had decided to terminate the heads of agreement that proposed a merger of the two funds. The two funds had signed a binding heads of agreement in December 2024, following the signing of a non-binding memorandum of understanding in September last year. “The board has concluded that it is not in TelstraSuper members’ best financial interests to proceed with the proposed merger,” the super fund announced on Wednesday.

“Bringing together two medium-sized funds is a complex process. As the merger process has progressed, and particularly in the period since the binding agreement was signed, it has become evident that TelstraSuper is unlikely to achieve our objectives for the merger, in the best financial interests of the fund’s members. As a result, the board has made the decision to bring planning of a proposed merger to a close. The board believes this is the right outcome for members.”

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