One more AXA hurdle
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.