Takeover bid for AMP
AMP Limited has received a takeover bid from a major US player.
The company has confirmed to the Australian Securities Exchange (ASX) that it has received an indicative non-binding conditional proposal from US-based Ares Management Corporation.
The ASX announcement said Ares was seeking to acquire 100% of the shares in AMP by way of a scheme of arrangement.
AMP said discussions with respect to the scheme were very preliminary and there was no certainty a transaction would eventuate.
It said that in the meantime, its Portfolio Review had received significant interest and a range of options was being discussed.
Ares is a significant private equity player in the US with one of its most recent transactions seeing it acquire SSG Capital Holdings and then launches Ares SSG, one of the largest credit-focused alternative investment managers in the Asia-Pacific
Recommended for you
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
Private markets manager Fortitude Investment Partners has launched an evergreen small-cap private equity fund.
After passing $300 billion in funds under management, Betashares is forecasting the Australian ETF industry could reach $500 billion by the end of 2028.
Ausbil is to expand its active ETF range with two ASX-listed launches, one focusing on global small caps and one on listed infrastructure.
