AXA (ticker: AXA, exchange: New York Stock Exchange) News Release - Wednesday, January 3, 2001.
AXA COMPLETES ACQUISITION OF MINORITY INTERESTS IN AXA FINANCIAL.
PARIS - FRANCE -- AXA (NYSE:AXA) announced today that, following the expiration of the subsequent
offering period of its joint exchange offer with its wholly owned subsidiary AXA Merger Corp. for all the publicly
held shares of common stock of AXA Financial, Inc. (NYSE:AXF), AXA Merger Corp. was merged with and
into AXA Financial, Inc., resulting in AXA Financial, Inc. becoming a wholly owned subsidiary of AXA. As a
result of the merger, which became effective at 5:00 p.m., New York City time, on Tuesday, January 2, 2001,
each publicly held share of AXA Financial common stock was converted into the right to receive 0.295 of an
AXA ADS and $35.75 in cash without interest, subject to the exercise of appraisal rights under Delaware law.
The AXA Financial common stock ceased to be traded on the New York Stock Exchange as of the close of
business on Tuesday, January 2, 2001.
The subsequent offering period for the exchange offer expired, as scheduled, at 12:00 midnight, New York City
time, on Friday, December 29, 2000. A total of approximately 4,313,356 shares of AXA Financial common
stock were validly tendered and accepted for payment during the subsequent offering period. After giving effect
to the acquisition of the shares of AXA Financial common stock tendered in the exchange offer, including shares
tendered in the subsequent offering period, and prior to the merger, AXA and its subsidiaries owned
approximately 92.4% of the issued and outstanding shares of AXA Financial common stock.
AXA issued 25,804,667 ordinary shares in connection with the exchange offer and the merger.
AXA Financial stockholders who hold their stock certificates will receive notice in the mail regarding the process
to surrender their shares for the merger consideration or exercise their appraisal rights. AXA Financial