Target(s)
- AXA Asia Pacific Holdings Limited
Summary
On 19 April 2010, the ACCC announced its decision to oppose the proposed acquisition of AXA Asia Pacific Holdings Limited (AXA) by National Australia Bank Limited (NAB) (see www.accc.gov.au/nab_axareview).Subsequently NAB and AXA proposed section 87B undertakings providing for the divestiture of the North platform administration business carried out by AXA to IOOF Holdings Limited (proposed undertakings).
The ACCC concluded that the proposed undertakings did not remedy the ACCC's competition concerns arising from the proposed acquisition. Please see the Public Competition Assessment below detailing the reasons for the ACCC's decision.
Market definition
Please see Public Competition Assessment below.Competition analysis
Please see Public Competition Assessment below.Other
Public competition assessment
Timeline
| Date | Event |
|---|---|
| 09/08/2010 | Draft 87B undertakings proffered by NAB and AXA. ACCC commenced market inquiries. |
| 23/08/2010 | Closing date for submissions from interested parties. |
| 09/09/2010 | ACCC decided to reject the draft 87B undertakings. |