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Australia's AMP buyout offer from Ares Management valued at $4.5 billion

Published 02/11/2020, 08:24 am
Updated 02/11/2020, 08:30 am
© Reuters.
AMP
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Nov 2 (Reuters) - Australian wealth manager AMP Ltd AMP.AX on Monday said a buyout offer from U.S.-based Ares Management Corp ARES.N had an implied value of A$1.85 per share, valuing the proposal at A$6.36 billion ($4.47 billion).

The offer price represents a premium of 21% to AMP's last closing price of A$1.53.

AMP first announced the receipt of the offer on Friday, saying discussions were still in early stages. ($1 = 1.4243 Australian dollars)

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