Free Trial

Reactions Copying and distributing are prohibited without permission of the publisher

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.

Read more: [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...


Poll

Do you believe efforts to set up a New York Insurance Exchange by the state's insurance department will succeed?

Yes, and it is a good idea
30%
Yes, but it is a bad idea
3%
No, but it is a good idea
42%
No, and it is a bad idea
21%
Not sure
3%