AMP Limited - proposed acquisition of AXA Asia Pacific Holdings' Australian and New Zealand businesses

Acquirer(s)

  • AMP Limited

Target(s)

  • AXA Asia Pacific Holdings' Australian and New Zealand businesses

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.

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.

Statement of issues

Document title Date

Public competition assessment

Document title Date

Timeline

DateEvent
04/12/2009ACCC commenced review under the Merger Review Process Guidelines.
11/12/2009ACCC requested further information from AMP Limited.
18/12/2009In light of AMP's announcement to the ASX on 17 December 2009, ACCC timeline suspended.
21/12/2009Upon AMP's request that the ACCC continue with its review of the proposed acquisition, ACCC timeline recommenced.
24/12/2009Closing date for submissions from interested parties.
10/02/2010ACCC 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.
26/02/2010Closing date for submissions relating to Statement of Issues.
12/03/2010Former 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.
30/03/2010The 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.
19/04/2010ACCC announced it would not oppose the proposed acquisition.