AMP Ltd
(ASX:AMP) has launched a new cash and scrip bid for AXA Asia Pacific Holdings
(ASX:AXA) with a fixed value of $6.43 a share.
The bid values AXA for $14 billion, which is the same as the all-cash-bid from National Australia Bank (ASX:NAB) which was approved by AXA’s board but then later rejected by regulators.
AMP and AXA are likely to go into a trading suspension this morning as the companies wait on a formal decision on the bid.
AXA’s board is expected to approve the offer by this week.
For the half year ended 30 June 2010, AMP generated a net profit of $412 million.
