Business
Ares offered cash and scrip for AMP, leaves door ajar for a cash bid – The Australian Financial Review
AMP is screaming out for an all-cash offer at $1.85 a share or higher, after setting a floor price and kicking off an auction for the wealth manager.
Still, the fact it is talking cash and scrip, even at this early and indicative phase, leaves the door open for a rival all-cash offer at $1.85.
Cash is always king in takeovers, particularly when the bidder is an offshore suitor whose scrip trades in the US and is unlikely to be that tempting to AMP’s mum and dad investors, let alone big institutions like Allan Gray and Lazard.
The other thing AMP investors want to see is a clean bid no bells, whistles, dual-listed structures and the like. They…
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