May 11 (Reuters) - National Australia Bank Ltd NAB.AX :
* NAB TO PROCEED WITH 86 400 ACQUISITION
* FEDERAL COURT OF AUSTRALIA MADE ORDERS APPROVING SCHEME OF ARRANGEMENT FOR 86 400 ACQUISITION
* SCHEME EXPECTED TO BECOME EFFECTIVE ON 12 MAY AND IMPLEMENTATION EXPECTED TO OCCUR ON 19 MAY
* 86 400 AND UBANK WILL CONTINUE TO OPERATE AS SEPARATE BUSINESSES IN SHORT TERM WITH NO IMMEDIATE CHANGES EXPECTED FOR CUSTOMERS OF EITHER BUSINESS Source ( https:// Further company coverage: NAB.AX