Australian wealth manager AMP says Ares buyout offer values it at $4.5b

Australian wealth manager AMP says Ares buyout offer values it at $4.5b

Sydney, Australia. Photo: Unsplash

Embattled Australian wealth manager AMP Ltd on Monday said a conditional buyout offer from U.S.-based Ares Management Corp had an implied value of A$6.36 billion ($4.47 billion), triggering a jump in its share price.