AXA-NAB Still Talking

AXA Asia Pacific & #160;says talks between National Australia Bank, parent AXA SA and itself on a & #36;13 billion takeover plan are at an advanced stage and could be wrapped up before or by next Monday.That's the day before the competition regulator is due to release its verdict on the first bid for AXAAP from the AMP Ltd. & #160;AXA Asia updated the market yesterday in a short statement, but made no comment on the AMP offer or on the deadline.The NAB agreed in December to buy AXA Asia Pacific for & #36;13.3 billion, an offer than & #160;trumped a cheaper bid from the AMP. & #160;The NAB said yesterday in a statement that & #160;it had agreed with AXA Asia Pacific & #160;to extend the terms deed for its bid to acquire AXA Asia Pacific until next Monday. & quot;The discussions to agree final transaction documents to implement the proposal between AXA APH, NAB and AXA SA are at an advanced stage, & quot; NAB said in a statement to the stock exchange yesterday. & quot;The proposal is subject to shareholder approval, and approval from Australian, Asian and New Zealand regulators, and other conditions. & quot;Early this month, the competition regulator, The Australian Competition and Consumer Commission (ACCC), delayed a decision on two competing bids for AXA Asia Pacific Holdings.The ACCC was due to decide by March 17 whether to allow the separate bids by National Australia Bank and the AMP.The ACCC said a decision on the AMP bid would not be made until April 1 and the decision on the NAB proposal had been delayed until April 22.That makes the extension until next Monday interesting. If there's no agreement, the ACCC could decide it all the next day by revealing its attitude to the AMP bid and suggesting its stance as well on the NAB offer.Because both offers are conditional on ACCC approval, the deal could fall over from the NAB's point of view next Monday, but also from the AMP's as well, if AXA indicates that it won't accept an inferior offer.That would then leave it up to the AMP to renegotiate a higher offer and its arrangement with AXA SA, the Paris-based parent.The AMP has said the longer the bid process takes, the more flexibility it has to make a counterbid.Both AMP and National Australia Bank's proposals involved keeping the Australian and New Zealand units of AXA Asia Pacific and selling divisions in eight Asian nations to AXA SA.AXAAP shares ended up 1c at & #36;6.31, AMP shares eased 5c to & #36;6.26 and NAB shares eased 19c to & #36;26.71.

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About Daniel Kertcher

Daniel Kertcher established Platinum Pursuits in 2001 as a vehicle in which to share his knowledge of strategies to use the financial markets to grow wealth, with the aim of achieving financial freedom by making your money work for you.

His argument is that until you become financially literate and develop a method where you're able to get a reasonable return on your capital (i.e. making your money work for you), you will instead be forever working hard for your money.

Daniel Kertcher personally achieved financial freedom at a relatively young age, through his knowledge of property and then financial markets investing. Through using Options and leveraged instruments such as CFDs, Daniel developed a system to trade the markets where he could benefit from the leverage when the trade went in the direction he predicted, and hedged his positions so that there was a limited downside risk.

Some people in the past have criticised Daniel's message of striving for financial freedom in a high-risk environment such as trading derivatives. However, it is not Daniel's or Platinum Pursuits' goal to encourage everyone to trade the financial markets. Every kind of investing contains an element of risk, so this level of education is aimed specifically for those who want an understanding of professional trading techniques and strategies that they hope to apply to their own capital, and it is absolutely true that many people are not yet in a position to invest a chunk of their savings.

To be truly financially literate, it can pay to explore all the options available when you are in a position to try to get ahead in life. Daniel currently presents free introductory seminars nationally on selected dates from February to November.

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