National Australia Bank Ltd (NAB) - proposed acquisition of AXA Asia Pacific Holdings Limited
Type of assessment
Informal Review
Reference
39761
Acquirer(s)
National Australia Bank Ltd (NAB)
Target(s)
AXA Asia Pacific Holdings Limited
Industry
Wealth management, superannuation, insurance
Summary
National Australia Bank Limited (NAB) proposed to acquire AXA Asia Pacific Holdings Limited's Australian and New Zealand businesses (AXA). NAB and AXA overlap in the area of retail investment platforms, life insurance, superannuation, wealth management and financial planning and advisory services.
Outcome of assessment
Opposed
Total review days *
60
Commenced public review
19th January 2010
Date completed
19th April 2010
Market definition
Please see the Public Competition Assessment below outlining the reasons for the ACCC's decision.
Competition analysis
Please see the Public Competition Assessment below outlining the reasons for the ACCC's decision.
Public competition assessment
Public Competition Assessment 9th September 2010 D10+3673911.pdf (181.8 KB)
Statement of issues
Statement of Issues 10th February 2010 D10+2900525.pdf (107.3 KB)
The ACCC has today decided to oppose National Australia Bank Ltd's (NAB) proposed acquisition of ...
Issued: 19th April 2010 Release # NR 078/10
Review timeline
Date
Event
19th January 2010
ACCC commenced review under the Merger Review Process Guidelines.
5th February 2010
Closing date for submissions from interested parties.
10th February 2010
ACCC published a Statement of Issues outlining preliminary competition concerns.
26th February 2010
Closing date for submissions relating to Statement of Issues.
12th March 2010
Former proposed date for announcement of ACCC's findings of 17 March 2010, amended to allow the ACCC to consider further information requested from the merger parties.
19th April 2010
ACCC announced it would oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
