AMP Limited has confirmed that the takeover bid initiated by US-based private equity player, Ares is valued at $1.85 per share.
In a release to the Australian Securities Exchange (ASX) today, AMP provided a Form 8-K Current Report filed by Ares with the US Securities and Exchange Commission.
“Ares’ proposal is at an implied value of $1.85 per AMP share,” it said.
“AMP emphasises that the preliminary nature of the proposal and discussions between itself and Ares, and the that there is no guarantee that a transaction will eventuate and no certainty with regards to price.”
