New York (Sept. 19, 2003) -- Financial services giant AXA Financial Inc. has signed a deal to acquire The MONY Group Inc. for roughly $1.5 billion in cash.

Under terms of the agreement, MONY shareholders will receive $31 for each share of MONY's common stock. The transaction, which is subject to MONY shareholder and certain required regulatory approvals, is expected to close in the first quarter of 2004.

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