AMP MAY RAISE AXA ASIA PACIFIC BID SOON

Australia-based financial services provider AMP could increase its offer for Axa Asia-Pacific Holdings within the next week, reported the Australian Financial Review last week. France-based AXA is in an exclusive partnership with AMP until February 6, but Axa Asia-Pacific has accepted an offer of AUD6.43 a share from National Australia Bank, worth AUD13.3bn ($12.0bn). AXA/AMP's current offer, its second, is worth about AUD6.22 a share. Both the AMP and NAB deals entail AXA buying Axa Asia-Pacific's Asian units after AMP or NAB completes its purchase. The Review said that AXA might be forced to raise its participation in its agreement with AMP for the deal to go ahead as originally planned.