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Article: French kiss-off for big insurer.
- Article from:
- Australasian Business Intelligence
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Eric Johnston
Nov 10, 2009 (The Sydney Morning Herald - ABIX via COMTEX) -- 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 ...