Australian wealth manager AMP is expected to wait until rival National Australia Bank (NAB) is completely out of the running before making another attempt to take over AXA Asia Pacific.
AMP, trumped last December by NAB's $12 billion offer for AXA Asia Pacific, would be able to structure a new proposal in less than a fortnight, the sources with direct knowledge said.
They added AMP considered its weak share price would not be a hindrance.
The sources declined to be identified as they were not authorised to speak to the media.
Yesterday, the Australian competition regulator blocked NAB's bid for AXA Asia Pacific for a second time, dashing the bank's efforts to cement its lead in the world's fourth-largest wealth management market.
The top two wealth managers in the country, NAB and AMP, are vying for the sixth largest fund manager in what is considered the last major consolidation opportunity in the country's fast-growing wealth management sector.
An AMP spokeswoman reiterated the fund manager saw AXA Asia Pacific as a strategic interest and that it was too soon to talk about the next step.
Reuters