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Suitor set to sweeten AXA offer

 

Monday, Nov 16,2009, 10:01:15 AM   Click:

French group Axa is set to increase its component of a joint takeover bid with AMP for the Axa Asia-Pacific (AAP) business listed in Australia. The target's board had rebuffed the initial approach, pitched at $A11.7bn, but signalled that an improved offer could be accepted. For a planned $A7.7bn, the French company would gain the Asian operations of AAP, with its Australian and New Zealand ones to go to AMP. The latter's position has been strengthened by a rise in its stock price since the initial bid.

Publication Date: 16 November 2009 

AXA ASIA PACIFIC HOLDINGS LIMITED - ASX AXA
AMP LIMITED - ASX AMP
AXA SA
CHINA LIFE INSURANCE COMPANY LIMITED

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