Ares AMP bid valued at $1.85 per share
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.”
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
