AMP and US firm Ares exclusivity period ends without deal; ASX on the rise

Wealth manager AMP insists there is still interest in its private markets business, despite an exclusivity period on a sale offer expiring.

AMP shares were flat in early trade, after news a deal had not eventuated during a 30-day exclusivity period, and speculation about the future of AMP’s chief executive Francesco De Ferrari.

In a statement, AMP said it continued to work towards a potential deal with US firm Ares, but there was no certainty a transaction would proceed.

In February, the…