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Most of AXA Asia independent board backs AMP offer

Published 11/15/2010, 06:21 PM
Updated 11/15/2010, 06:24 PM

SYDNEY, Nov 16 (Reuters) - Most of Australian wealth manager AXA Asia Pacific's independent directors support a $13.1 billion-plus takeover bid from parent AXA SA and AMP, but one board member is still undecided.

AXA Asia Pacific disclosed the positions of its independent directors on Tuesday, a day after AXA SA and AMP unveiled their offer, which is conditional on unanimous support from AXA Asia Pacific's independent directors.

The last, undecided independent director has sought more information on the offer before determining his or her position, AXA Asia Pacific said. (Reporting by Narayanan Somasundaram; Editing by Mark Bendeich)

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