One more AXA hur­dle

Townsville Bulletin - - Investor -

THE drawn-out bid for wealth man­ager AXA Asia Pa­cific Hold­ings Ltd has one last hur­dle to clear, a court ap­proval. This fol­lows AXA APH share­hold­ers yes­ter­day over­whelm­ingly sup­port­ing AMP Ltd’s $ 14 bil­lion takeover. The ap­proval had been ex­pected, with the pro­posal unan­i­mously rec­om­mended by the in­de­pen­dent direc­tors of AXA APH’s board. It comes a day af­ter Trea­surer Wayne Swan gave the deal the green light. AXA shares gained eight cents to $ 6.41 af­ter the vote, and AMP shares lost five cents to $ 5.30.

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