Australia's competition watchdog has delayed rulings on the $12 billion takeover tussle for AXA Asia Pacific by National Australia Bank and AMP Ltd, its website showed on Friday.
The Australian Competition and Consumer Commission had planned to announce findings on the both the bids by March 17 but now expects come out with its findings on AMP's offer on April 1 and on NAB on April 22, it said.
The regulator did not cite a reason for the delay.
NAB has trumped AMP with a higher offer, but the ACCC has said it was more concerned over NAB's offer. The regulator's ruling is pivotal in the high stakes tussle.
Both NAB and AMP plan to keep the Australian and New Zealand businesses of Axa Asia Pacific and sell the units in eight Asian countries to AXA Asia Pacific's parent AXA SA.
(Reporting by Narayanan Somasundaram; Editing by Wayne Cole)