Business
Embattled financial firm AMP confirms takeover bid from US company – ABC News
AMP receives a takeover bid after putting itself up for sale in the wake of a management overhaul, sexual harassment scandal and customers pulling billions of dollars…
AMP has confirmed it has received a conditional takeover offer from US private equity firm Ares Management Corporation.
The 171-year-old financial company did not reveal how much was offered.
In a statement, AMP stressed the discussions were at a “very preliminary stage” and “there is no certainty that a transaction will eventuate”.
The non-binding bid comes almost two months after the company essentially advertised itself for sale, either as a whole, or broken apart into separate businesses.
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