Case | HBS Case Collection | November 2007


by Lucy White and Andre F. Perold


AXA's friendly bid for MONY is contested by activist hedge funds suspicious of management's generous change in control contracts. Votes trade after the record date. AXA financed the bid using an unusual conditionally convertible bond which may have affected incentives to trade and vote MONY shares.

Keywords: Bonds; Ethics; Bids and Bidding;


White, Lucy, and Andre F. Perold. "AXA MONY." Harvard Business School Case 208-062, November 2007.