AXA Asia Pacific Holdings Ltd. (AXA.AU) said Monday it has received another takeover proposal from French parent AXA SA (AXAHY) and Australian wealth manager AMP Ltd. (AMP.AU).

A deal with the AXA APH board would be a coup for AMP whose previous bid for the wealth management and insurance company was rejected in favor of rival suitor National Australia Bank Ltd. (NAB) last year. The NAB deal was later blocked by the competition regulator.

The Australian newspaper reported on its website that AMP has lodged a new cash and share bid for AXA APH with a fixed value of at least A$6.43 a share. That values the target at A$14 billion, the same as the all-cash NAB bid. The report said the offer is expected to be approved by the AXA APH's board this week.

AXA Asia Pacific put its shares in trading halt Monday and didn't provide any further details of the proposal. AMP shares are also in a trading halt.

Representatives from AMP, AXA Asia Pacific and AXA SA weren't immediately available for comment.

-By Rebecca Thurlow, Dow Jones Newswires; 61-2-8272-4679; rebecca.thurlow@dowjones.com
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