Wealth management firm AMP tossed its new $14 billion cash and scrip bid to buy AXA Asia Pacific Holdings, in a coup deal that analysts believed would be given the nod once the AXA-APH board convenes this week.

Attached with a fixed value offer of $6.43 per share, the acquisition offer would be realised by adding only $300 million more on AMP's original offer, which was bested out by National Australia Bank's (NAB) takeover bid but was eventually blocked by the Australian Competition and Consumer Commission (ACCC).

AMP chair Peter Mason personally informed AXA-APH head Rick Allert the about the offer on Sunday as both firms were expected to enter trading halt on the Australian shares market on Monday morning to await for a formal decision on the takeover bid.

Upon finalisation of the deal, AMP would be able to acquire the fund management business of AXA-APH, which analysts said is almost a done deal following the French firm's decision to underwrite the scrip component of the agreement that.

AMP said that no capital raising would be undertaken to finance the takeover agreement as it added that AXA-APH shareholders are poised to derive benefits from the deal as AMP stocks were expected to be boosted by the bid terms.

The deal was revived following ACCC's rejection of the AXA-NAB deal earlier this year, which was also countered by AMP before the government regulator when it became clear that AXA shareholders were leaning towards a NAB takeover.

Unlike the botched NAB proposal, AMP is confident that the ACCC would view its latest bid more favourably, which the investment firm said would lead to the creation of a fifth force that would offer considerable competition to services already offered by the country's four major banks.

If completed, the deal would also give AMP the coveted North trading platform of AXA-APH, which is one of the major concerns cited by the ACCC in throwing out the NAB-AXA merger.