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AMP takeover spurned by Ares Management – The Australian Financial Review
AMP’s key asset management arm remains in play as part of a potential corporate transaction from the US-based company, but AMP was dumped as an acquisition last…
AMP shares closed Wednesday at $1.54, or 17 per cent, lower than Ares $1.85 per-share takeover offer.
Following detailed discussions, AMP has been advised last night by Ares that it does not intend to proceed with its non-binding indicative proposal for 100 per cent of AMP of $1.85 per share, AMP said.
AMP continues to engage constructively with Ares in relation to AMP Capital as part of the portfolio review.
AMP CEO Francesco De Ferrari promised culture would be his “number-one priority”. Louie…
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