NAB completes due diligence on AXA buy

NAB (ASX:NAB) has announced that it has completed due diligence for its $4.6 billion bid to acquire AXA Asia-Pacific’s (ASX:AXA) Australian and New Zealand assets.

But the company said it could not act until the exclusivity agreement between AXA and rival suitor AMP expires on February 6.

The deal is subject to a number of matters, including an agreement from AXA’s parent to purchase its subsidiary’s Asia-Pacific assets.

Shareholder and regulatory approval is also required.