On 8 September 2008, St George and Westpac signed an amended merger implementation agreement for a proposed merger of the two companies.
On 1 December 2008, St George merged with Westpac.
St George ordinary shareholders received 1.31 fully paid ordinary shares in Westpac for each ordinary share they held on 24 November 2008.
St George also declared a final and special dividend for its ordinary shares of $1.25 per ordinary share payable on 18 December 2008.
The market value of each Westpac share received by St George shareholders on 1 December 2008 is $17.1882.