AMP-AXA APH merger closes
AXA APH (ASX:AXA) is now wholly-owned by former rival AMP (ASX:AMP), and AMP will soon sell the Asian assets of the business back to AXA SA
AXA APH (ASX:AXA) is now wholly-owned by former rival AMP (ASX:AMP), and AMP will soon sell the Asian assets of the business back to AXA SA
AMP (ASX:AMP) has submitted a new bid for the Aus/NZ assets of AXA Asia-Pacific (ASX:AXA) in a deal valuing the whole of the latter at $13.3b
But must wait for the AXA-AMP exclusivity agreement to expire
The company anticipates a post-tax profit of $550m
The new offer is a 16% improvement on the first, and a 53% premium on AXA's prior trading price
The company yesterday rejected an $11b joint buyout bid from its major shareholder and AMP