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Reuters
Reuters
Business

Australia's AMP says Ares dropped takeover offer

FILE PHOTO: The logo of Australia's biggest wealth manager, AMP Ltd, adorns their head office building in Sydney, Australia, October 28, 2016. REUTERS/David Gray

AMP Ltd said on Thursday U.S.-based Ares Management has pulled its buyout offer for the Australian wealth manager.

AMP will continue to hold talk with Ares regarding its interest in AMP Capital as part of the company's porfolio review, the company said.

(Reporting by Anushka Trivedi and Sameer Manekar in Bengaluru; Editing by Aditya Soni)

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