AXA AP considers new AMP bid
AMP Limited has lodged its new bid to acquire AXA Asia Pacific offering $6.43 per share.
AMP announced the new bid to the Australian Securities Exchange this morning and the independent directors of AXA Ap said they were currently considering the proposal.
The bid would see AMP acquire 100 per cent of AXA AP and then merge the Australian and New Zealand businesses with its own operations while divesting AXA AP to the company’s French parent.
The announcement followed a trading halt on the ASX early today and consequent speculation around the value of the bid.
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Mike Taylor
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