AXA and NAB extend takeover talks

Australian insurer and fund manager AXA Asia Pacific Holdings said today it has agreed with National Australia Bank to extend a takeover agreement to March 29.

AXA Asia Pacific said talks to agree the final transaction documents to implement the takeover offer between itself, its parent, France's AXA SA and NAB were in advanced stages.

It added its independent directors continue to unanimously recommend the proposal in the absence of a superior proposal.

NAB, the country's top lender and AMP are locked in the $US12 ($NZ16.9) billion takeover tussle for AXA Asia Pacific.

- AAP