Ann: NAB reaches agreement with AXA and AXA APH , page-9

re: Ann: NAB reaches agreement with AXA and A... Hi freewill,

yes renouncable is nice in theory but what tends to happen is that the margin obtained ends up being a very low premium to the SP (e.g. Woodside) due to timing, so the effect is that you really need to take it up.

I suppose there is still a chance that the regulator cans it. Hope so.

Goes to show in the long run how correct Warren Buffett is. Management is everything, observe the CBA-NAB divergence over the past years.