$1bn share raid shocks sick AMP.

Australasian Business Intelligence, August, 2003

Aug 27, 2003 (The Australian - ABIX via COMTEX)

A mystery share buyer has tried to purchase $A1bn of shares in financial services giant AMP. The buyer, widely rumoured to be the National Australia Bank (NAB), has lined up an 11 stake in the company. Although market sources have touted NAB as the most likely buyer, there is also the possibility that the bid was from an overseas organisation such as HSBC or Old Mutual. The buyer, through JBWere and Citibank Smith Barney, was seeking 174 million shares at a minimum of $A5.60 per share. The bid will be cancelled if it does not gather 100 million shares.

Publication Date: 28 August 2003

AMP LIMITED - ASX AMP: 

NATIONAL AUSTRALIA BANK LIMITED -

ASX NAB:

HSBC BANK PLC:...