Bloomberg News

Irish Life Jumps on Speculation Axa May Make Takeover Bid

December 03, 2009

Irish Life & Permanent Plc rose the most in more than three months in Dublin trading on speculation that Axa SA (CS) may bid for the company.

“There’s a rumor of a bid by Axa for Irish Life,” said Oliver Gilvarry, head of research at Dolmen Securities in Dublin.

Irish Life rose as much as 17 percent to 3.85 euros, the biggest gain since Aug. 28, according to Bloomberg data. The stock was up 8.5 percent at 3.63 euros at 3:10 p.m.

A spokesman for Irish Life couldn’t immediately be reached for comment.

To contact the reporter on this story:

Ian Guider in Dublin at iguider@bloomberg.net.

To contact the editors responsible for this story: Frank Connelly at fconnelly@bloomberg.net; Edward Evans at eevans3@bloomberg.net


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