ACCC Chair Steps Back From AXA-NAB Deal Review

Law360, New York (August 18, 2010, 4:07 PM EDT) -- Australia’s competition watchdog said Wednesday that its chairman would recuse himself from deliberations over a proposed $11.9 billion deal between AXA Group and National Australia Bank Ltd. because of his investments in the DFO shopping center chain.

The chairman, Graeme Samuel, said he would recuse himself to avoid perceived conflicts of interest despite the fact that AXA and NAB didn’t object to his continued involvement, the Australian Competition and Consumer Commission said Wednesday.

The DFO shopping center chain in which Samuel has invested owes AU$450 million...
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