Axa trumped rival by 15.2% for XL

Axa outbid a rival suitor for XL by 15.2 percent in the final
throes of a process that involved seven potential bidders, a
pre-merger proxy statement revealed.
XL CEO Mike McGavick held preliminary discussions with an
unnamed "Party 1" - widely believed to be Allianz - as
early as June 2017 before entering into negotiations with Axa that
culminated in their $15.3bn takeover agreement.
Axa's $57.60-per-share share offer, which was made on 23
February, followed a bid three days earlier...