Extension Of AXA APH Proposal
PARIS, July 18 /PRNewswire-FirstCall/ -- AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) have agreed to extend the period for NAB to satisfy the concerns raised by the Australian Competition and Consumer Commission (ACCC) until the end of the day on August 31, 2010.
On April 19, 2010 the ACCC announced that it would object to the proposed transaction whereby NAB would acquire 100% of AXA APH, retain the Australian and New Zealand businesses of AXA APH and sell to AXA 100% of the Asian businesses of AXA APH.
AXA understands that NAB continues to pursue its options in relation to the ACCC objections.
AXA, AXA APH and NAB have agreed the payment of an interim dividend to AXA APH shareholders of up to 9.25 cents (AUD) per share to be determined by the directors of AXA APH. The parties have also extended the end date for shareholder and court approval for the proposed transaction from October 31, 2010 to January 31, 2011.About AXA AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Europe, North America and the Asia/Pacific area. For full year 2009, IFRS revenues amounted to Euro 90.1 billion and IFRS underlying earnings to Euro 3.9 billion. AXA had Euro 1,015 billion in assets under management as of December 31, 2009. The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISIN FR0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA's American Depository Shares are also quoted on the OTC QX platform under the ticker symbol AXAHY.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV