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ISCOVER
Staff Reporter
AMP has made its third bid for AXA Asia Pacific Holdings, offering $14.6 billion for the company.
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If successful, the deal would force the company to sell its Asian operations to French parent AXA SA.
AMP’s chief executive Craig Dunn said the deal would create a fifth pillar in the financial services industry that would be able to take on the major banks, with dominant shares in the retail superannuation, retirement income, retail managed funds and individual risk sectors.
AMP's offer matches NAB’s all cash $6.43 per share bid accepted by the AXA APH board in September this year, but later disallowed by the competition regulator.
