Did benchmark get bought out?
Yes, Bendigo Bank and Adelaide Bank completed a merger in November 2007. The transaction was structured through schemes of arrangement, which resulted in Adelaide Bank becoming a wholly-owned subsidiary of Bendigo Bank. Following the merger, the combined entity underwent a rebranding process, and by March 2008, the company officially changed its name to Bendigo and Adelaide Bank Limited. This merger was a significant consolidation in the Australian retail banking sector, bringing together two regional financial institutions to create a larger, more competitive organization that continued to operate under the familiar Bendigo Bank trading name in its retail outlets across Australia.
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