Clayton Reps AMP In $13B AXA Asia Pacific Deal

Law360, New York (November 15, 2010, 6:00 PM EST) -- Australian asset manager AMP Ltd. on Monday announced plans to buy AXA Asia Pacific Holdings Ltd.'s Australian and New Zealand businesses in a deal worth at least AU$13.3 billion ($13.1 billion).

The companies unveiled a joint proposal in which AMP would buy all of the outstanding shares of AXA Asia Pacific for at least $13.3 billion, including AU$7.2 billion for French parent AXA Group's 54 percent stake in the company.

As part of the transaction, AXA would pay AMP AU$9.8 billion in cash for AXA Asia...
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