AMP, the Australian financial services group, and Axa have launched a fresh joint bid for the French insurer’s Asia- Pacific business worth at least A$13.3bn (US$13.1bn).
The cash-and-shares bid for the Australian-listed wealth manager amounts to at least A$6.43 a share and comes a year after AMP and Axa made an initial A$11bn bid for the division.
In an effort to win the backing of its target’s independent directors, the proposal matches the price of an aborted bid made this year by National Australia Bank.
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