AMP Limited - proposed acquisition of AXA Asia Pacific Holdings' Australian and New Zealand businesses
Type of assessment
Informal Review
Reference
39604
Acquirer(s)
AMP Limited
Target(s)
AXA Asia Pacific Holdings' Australian and New Zealand businesses
Industry
Wealth management
Summary
AMP Limited (AMP) proposed to acquire AXA Asia Pacific Holdings Limited's Australian and New Zealand businesses (AXA). AMP and AXA overlap in the areas of retail investment platforms, life insurance, superannuation, wealth management and financial planning and advisory services.
Outcome of assessment
Not opposed
Total review days *
88
Commenced public review
4th December 2009
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
4th December 2009
ACCC commenced review under the Merger Review Process Guidelines.
11th December 2009
ACCC requested further information from AMP Limited.
18th December 2009
In light of AMP's announcement to the ASX on 17 December 2009, ACCC timeline suspended.
21st December 2009
Upon AMP's request that the ACCC continue with its review of the proposed acquisition, ACCC timeline recommenced.
24th December 2009
Closing date for submissions from interested parties.
10th February 2010
ACCC published a Statement of Issues outlining preliminary competition concerns. Former proposed date for announcement of ACCC's findings, amended to allow for Statement of Issues.
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.
30th March 2010
The ACCC deferred its former proposed date for announcement of 1 April 2010. It is continuing to receive relevant information and will make a decision as soon as all relevant information has been considered.
19th April 2010
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
