22 March 2018

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Axa strikes $15.3bn deal for XL Group

5 March 2018

French carrier Axa has agreed a $15.3bn deal to acquire XL Group as it seeks to become a major property and casualty player.

Axa is to offer $57.60 per share for XL Group, an increase of 33 percent on the target company's closing share price on Friday (2 March).

The Axa offer is equivalent to 1.51x XL Group's fully diluted book value per common share of $38.04 (as at 31 December).

The proposed takeover bid follows weeks of speculation about...

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