National Australia Bank Ltd (NAB) - proposed acquisition of AXA Asia Pacific Holdings Limited

Acquirer(s)

  • National Australia Bank Ltd (NAB)

Target(s)

  • AXA Asia Pacific Holdings Limited

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.

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
19/01/2010ACCC commenced review under the Merger Review Process Guidelines.
05/02/2010Closing date for submissions from interested parties.
10/02/2010ACCC published a Statement of Issues outlining preliminary competition concerns.
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.
19/04/2010ACCC announced it would oppose the proposed acquisition.