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French kiss-off for big insurer

Nov 10, 2009 (The Sydney Morning Herald - ABIX via COMTEX) -- By Eric Johnston

Company: AXA (AXA)

The takeover bid for AXA Asia Pacific by French financial services group, AXA Group, is motivated by the prospect of growth in Asia. AXA Asia Pacific rejected a $A7 billion offer from its parent in 2005. AXA has strengthened its position by making a joint bid with AMP worth nearly $A12 billion. AMP will then sell the Asian assets to AXA for $A7.7 billion. AXA Asia Pacific has rejected the offer, but a higher bid may be considered.

Publication Date: 11 November 2009 

AXA ASIA PACIFIC HOLDINGS LIMITED - ASX AXA
AXA SA
AMP LIMITED - ASX AMP
WESTPAC BANKING CORPORATION - ASX WBC
SUNCORP-METWAY LIMITED - ASX SUN
EL AND C BAILLIEU STOCKBROKING LIMITED
COMMONWEALTH BANK OF AUSTRALIA - ASX CBA
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED - ASX ANZ
NATIONAL AUSTRALIA BANK LIMITED - ASX NAB
CREDIT SUISSE (AUSTRALIA) LIMITED
TYNAN MACKENZIE PTY LTD
GENESYS WEALTH ADVISERS LIMITED

Copyright (C) 2009 ABIX. All rights reserved

News Provided by COMTEX

Company: AXA (AXA)


Related terms: asia, australia, bank, banking, cba, insurance, new zealand

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