{"id":7094,"date":"2010-07-19T15:04:12","date_gmt":"2010-07-19T05:04:12","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=7094"},"modified":"2020-02-06T08:11:05","modified_gmt":"2020-02-05T21:11:05","slug":"breathing-space-for-nabaxa-acquisition","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/07\/19\/breathing-space-for-nabaxa-acquisition\/","title":{"rendered":"Breathing Space for NAB\/AXA Acquisition"},"content":{"rendered":"<p>Key players have extended the deadlines surrounding NAB&#8217;s proposed acquisition of AXA Asia Pacific (AXA).<\/p>\n<p><!--more-->Joint statements issued this week\u00a0by AXA, its European parent company, AXA SA and National Australia Bank have announced an extension to the period during which\u00a0NAB\u00a0must satisfy the anti-competitive objections raised by the Australian Competition and Consumer Commission(ACCC) in relation to its proposed\u00a0acquisition of AXA.<\/p>\n<p>NAB now has until 31 August 2010 to make submissions to the ACCC and satisfy the objections raised by consumer body\u00a0to the proposed acquisition (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2010\/04\/19\/accc-opposes-nabs-axa-bid-endorses-amp\/\" target=\"_self\" rel=\"noopener noreferrer\">ACCC Opposes NAB&#8217;s AXA Bid&#8230;<\/a>).<\/p>\n<p>As well as extending the time frame in which to satisfy ACCC objections, the date by which the overall scheme of arrangement is required to become effective (including shareholder and court approval)\u00a0has\u00a0also been extended to 31 January 2011 (previously 31 October 2010).<\/p>\n<p>Meanwhile the opposing &#8216;fifth pillar&#8217; bid for AXA\u00a0by AMP remains on the table.\u00a0 Last month, AMP issued a statement welcoming the New Zealand Commerce Commission&#8217;s\u00a0clearance of\u00a0the proposed AMP\/AXA merger, stating that a merger between AMP and AXA\u00a0would create a fifth pillar in the critically important financial services sector, creating a stronger wealth manager to better serve the Australian and New Zealand communities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key players have extended the deadlines surrounding NAB&#8217;s proposed acquisition of AXA Asia Pacific (AXA).<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,3],"tags":[],"class_list":["post-7094","post","type-post","status-publish","format-standard","category-company-news","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/7094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=7094"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/7094\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=7094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=7094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=7094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}