SYDNEY, March 22 (Reuters) - Australian insurer and fund manager AXA Asia Pacific Holdings said on Monday it has agreed with National Australia Bank to extend a takeover agreement to March 29.
AXA Asia Pacific said talks to agree the final transaction documents to implement the takeover offer between itself, its parent, France's AXA SA and NAB were in advanced stages.
It added its independent directors continue to unanimously recommend the proposal in the absence of a superior proposal.
NAB, the country's top lender and AMP are locked in the $12 billion takeover tussle for AXA Asia Pacific.
(Reporting by Narayanan Somasundaram; Editing by Balazs Koranyi)
((narayanan.somasundaram@thomsonreuters.com; +61 29373 1815; Reuters Messaging narayanan.somasundaram.reuters.com@reuters.net)) Keywords: AXAASIA NAB/ (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
AXA Asia Pacific said talks to agree the final transaction documents to implement the takeover offer between itself, its parent, France's AXA SA and NAB were in advanced stages.
It added its independent directors continue to unanimously recommend the proposal in the absence of a superior proposal.
NAB, the country's top lender and AMP are locked in the $12 billion takeover tussle for AXA Asia Pacific.
(Reporting by Narayanan Somasundaram; Editing by Balazs Koranyi)
((narayanan.somasundaram@thomsonreuters.com; +61 29373 1815; Reuters Messaging narayanan.somasundaram.reuters.com@reuters.net)) Keywords: AXAASIA NAB/ (If you have a query or comment on this story, send an email to newsfeedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.