Embattled financial company AMP confirms takeover bid from US company

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AMP receives a takeover bid after putting itself up for sale in the wake of a management overhaul, sexual harassment scandal and customers pulling billions of dollars from its wealth division.

AMP has confirmed it received a non-binding takeover offer from US private equity firm Ares Management Corporation.

The 171-year-old financial company did not reveal how much was offered, and stressed the discussions were at a "very preliminary stage". The conditional takeover bid comes almost two months after the company essentially advertised itself for sale. In August, AMP's new chairman Debra Hazelton launched a strategic review of the company following the

 

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USA controlled ? think it might be safer to put the dosh under the mattress, if it is not there already.

Good! This company has had so many missteps. Managers destroyed a great brand.

I thought we only sell out to China? 😯

a take over would mean sacking n property sellout n they'd spit out the carcass

A few questions: Has this passed the Foreign Investment Review Board (FIRB)? Or do the buyers get a free pass because they're from the US? Why haven't they sacked sex creep Boe Pahari yet?

Are superannuation companies allowed to be foreign entities? That doesn't seem right. So are we now allowing other countries and large corporations to take advantage of Australians Pensions?

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