News

NAB given more time for its AXA bid

Wednesday 2nd of June 2010

NAB and AXA have agreed to extend the framework deed, under which the bank has the box seat in buying AXA's Australian and New Zealand businesses for A$13.3 billion, until the deadline set by the Australian Competition and Consumer Commission (ACCC) for the bank to convince the regulator why a sale should go ahead.

The ACCC turned down the NAB bid, saying it would lessen competition in t...

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