Westpac says in takeover talks with St George

SYDNEY, May 12 (Reuters) - Westpac Banking Corp Ltd (WBC.AX: Quote, Profile, Research), Australia's fourth-biggest lender, said on Monday it had entered merger talks with St George Bank Ltd (SGB.AX: Quote, Profile, Research), which has a market value of A$15 billion ($14 billion), to create Australia's largest home lending and wealth management provider.

Trading in the shares of both companies was placed on a trading halt. (Reporting by James Thornhill)