Australia’s AMP buyout provide from Ares Administration valued at $4.5 billion

© Reuters. FILE PHOTO: The emblem of Australia’s largest wealth supervisor, AMP Ltd, adorns their head workplace constructing in Sydney, Australia

(Reuters) – Australian wealth supervisor AMP Ltd (AX:) on Monday stated a buyout provide from U.S.-based Ares Administration Corp (N:) had an implied worth of A$1.85 per share, valuing the proposal at A$6.36 billion ($4.47 billion).

The provide worth represents a premium of 21% to AMP’s final closing worth of A$1.53.

AMP first introduced the receipt of the provide on Friday, saying discussions have been nonetheless in early phases.

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