Axa is planning to buy Anhyp in stock deal
Article Abstract:
AXA-UAP SA, an insurance company in France, intends to purchase Anhyp SA, a Belgium-based bank, in a stock deal worth 22.1 billion Belgian francs. Axa sees the acquisition as an opportunity to strengthen its presence in Belgium, where there has been increasing consolidation activities between banks and insurers. Axa, which is the largest insurer in Belgium, could face strong rivals in Belgium's Fortis Group, KBC Holding NV and ING Groep NV if it stays without a partner in its Belgian operation. Anhyp, which controls a far-reaching network of independent bank agents, has been looking for a partner as it is emerging from restructuring.
Comment:
Intends to purchase Anhyp SA, a Belgium-based bank, in a stock deal worth 22.1 bil Belgian francs
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Bid for Anhyp is viewed as sure deal
Article Abstract:
Royale Belge SA's friendly takeover of Anhyp SA, Belgium's only remaining independent banking institution, is seen by analysts as a done deal. Industry analysts observed that despite a slight increase on early trading on Nov. 9, 1998, following the announcement of the 21.5-billion-Belgian-franc offer by Royal, Anhyp shares has stabilized at 9,000 francs per share, their level on Nov. 6, 1998, and the price Royal offered for the bank. Analysts say that investors have already decided that no counteroffer will be presented for Anhyp.
Comment:
Its friendly takeover of Anhyp SA, Belgium's only remaining independent banking institution, is seen by analysts as a done deal
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Anhyp shares soar on speculation bank may be takeover candidate
Article Abstract:
Anhyp NV is a likely takeover target as it remains the only small, publicly-traded bank in Brussels, said analysts. Rumors of a takeover have pushed the bank's stock to high levels, a rise that was further fueled when the board of Generale de Banque SA approved a merger with Belgian-Dutch banking-insurance concern Fortis. However, Jean-Marie Boudolf, Anhyp's secretary-general, said the bank is not involved in any takeover discussions and that the increase of the bank's stock price has been based purely on rumors.
Comment:
Is a likely takeover target as it remains the only small, publicly-traded bank in Brussels, say analysts
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Thorn is planning to sell its foreign businesses. Kingfisher expected to update strategy on European expansion
- Abstracts: Overcapacity is a basic woe. Outlook for Taiwan chip makers brightens after quake. Utek offering may boost Taiwan's hopes
- Abstracts: Prada boosts stake to 9.5% in rival Gucci. Prada's designs on Gucci are unclear
- Abstracts: Czech blend. Cokoladovny to be split into 2 separate companies. Commerzbank, Wood & Co. end venture