The shareholder votes are in, and last night the Federal Court gave its approval to the proposed Suncorp and Promina merger. All the hurdles have now been jumped for the two companies to become a single entity from March 20.

But there are still no clues as to what that entity will look like. Suncorp has maintained its silence on the future management team, saying only that it will be a priority for CEO John Mulcahy when the two companies come together next week.

Until then, they remain keen competitors in the local insurance market. Suncorp spokesman Jamin Smith told Sunrise Exchange News the company is unable to make even informal offers to potential staff.

Meanwhile, Suncorp shareholders are being asked to help fund the cash component of the $7.9 billion acquisition. While share markets have been jittery of late, Mr Smith says there is no concern the entitlement offer will be under-subscribed. The newly issued shares are being offered at a significant discount and the process is fully underwritten by Citigroup.