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APH will have “tough time” arguing higher price
09 November 2009
AXA Asia Pacific, the Australian arm of the French insurer AXA , on Monday rejected a $10.2bn takeover bid from its Paris-based parent and Australian wealth management firm AMP.
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[AXA Asia Pacific]
[APH]
[AMP]
[Asia Pacific]
[Australia]
AXA Asia Pacific, the Australian arm of the French insurer AXA , on Monday rejected a $10.2bn takeover bid from its Paris-based parent and Australian wealth management firm AMP.The deal would have seen Axa double its exposure to the Asian life and savings market, Henri de Castries, chairman of Axa’s management board said.“The proposed transaction offers to AXA APH’s minority shareholders a significant premium and the opportunity to become shareholders of a larger and stronger AMP Group which will permit them to share directly in the significant synergies that this transaction...
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