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AMP, AMP LIMITED
early birds
post Posted: Nov 3 2020, 09:23 AM
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In Reply To: early birds's post @ Nov 2 2020, 09:51 AM

If US private equity group, Ares follows through with a complete bid for all of AMPs shares at $1.85 each, then the bid is done and dusted.

AMP yesterday revealed that a filing Ares made with the US Securities and Exchange Commission had indicated a bid price for AMP shares of $1.85 cash each.

That compares to $1.28 before Fridays announcement of an approach from Ares.

The $1.85 a share values AMP at around $6.4 billion and is rich enough to force other bidders (if they are there) from the field and leave the US group alone.

AMP shares ended at $1.68, up 9.8% (after a 20% jump last Friday).

The market knows the deal is done if the bid finally appears in a complete and binding form.

But it is early days.

Ares said in its Securities and Exchange Commission: The diligence and discussions are very preliminary and there is no certainty that any transaction will occur on the proposed terms, within any particular time frame, or at all.

Some brokers reckon Macquarie Group could emerge with a bid.

Macquarie will have the chance to comment on any interest with its interim results being announced this Friday.
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early birds
post Posted: Nov 2 2020, 09:51 AM
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In Reply To: early birds's post @ Oct 30 2020, 09:02 AM

AMP shares have shot 7.8 per cent higher to $1.65 after it said the proposed takeover offer from Ares Management has an implied value of $1.85 a share, a 20 per cent premium to Friday's closing price.

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so value at 1.85 per share!! hope some other bidder comes in pump it over 2 bucks???? unsure.gif
for sack of long term holder [ or sufferer ]. man!! it is a sad case for investors!! sadsmiley02.gif



 
early birds
post Posted: Oct 30 2020, 09:02 AM
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In Reply To: Mags's post @ Oct 30 2020, 08:32 AM

the shareholders have been ripped off, while the directors, their suppliers and consulting buddies make off with millions each??

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i guess that is the case ------------usually!! weirdsmiley.gif

up 20% as i type, !! but only over 1.50 man !!! think of how much is their flow price 23 bucks or something as i can remember!!





 
Mags
post Posted: Oct 30 2020, 08:32 AM
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In Reply To: early birds's post @ Oct 30 2020, 07:58 AM

QUOTE
didn't mention how much they gonna pay for it???


Too much is my guess: Who wants to bet when the covers are lifted, the asset prices have been ridiculously inflated, the debts and liabilities are extra ordinary, and surprise surprise, the shareholders have been ripped off, while the directors, their suppliers and consulting buddies make off with millions each??



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early birds
post Posted: Oct 30 2020, 07:58 AM
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In Reply To: Oleg's post @ Aug 14 2020, 06:22 PM

rescuer is coming....

https://www.afr.com/companies/financial-ser...20201030-p569z1

AMP has confirmed an acquisition offer from New York Stock Exchange-listed investment giant Ares Management to acquire all of its shares, potentially saving the embattled 171-year-old wealth manager from being broken up.

..
However, it is understood some potential acquirers are only interested in the more attractive parts of AMP including the infrastructure and unlisted property investment functions of its flagship AMP Capital subsidiary and its growing North wealth management platform.

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didn't mention how much they gonna pay for it??? unsure.gif



 
Oleg
post Posted: Aug 14 2020, 06:22 PM
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In Reply To: early birds's post @ Aug 14 2020, 03:34 PM

Everyones been talking down amp the media are after them but its not all as bad as it seems and divi is good reward for loyal holders!


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early birds
post Posted: Aug 14 2020, 03:34 PM
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https://www.sharecafe.com.au/2020/08/14/cap...ssy-amp-result/

Woohoo, investors loved the AMPs loss-strewn June half-year report yesterday.

The reason? The decision to return of capital to shareholders by way of a special dividend from the sale of AMP Life and a $200 million share buyback (subject to stability in the market).

That return came despite a weak operating profit and a massive loss after write-downs. The shares bounced more than 10% to $1.53 in what looked like a relief rally but were really the greed gene kicking in.

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hi smithy
as i don't follow AMP closely, i don't have much to yipy yapy about it.
everything happened so far, not many good for AMP it seems to me. but with it's current SP . it might hide some good values if it can keep it's the way they operating
it's still mucky for me as i can't get my little brain around it. wacko.gif



 
alonso
post Posted: Nov 22 2019, 10:46 AM
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In Reply To: blacksheep's post @ Nov 20 2019, 09:19 AM

I wonder if this is occurring under "non-forfeiture" clauses of "with profits" life insurance policies, ie policies which have a condition

under which the policy won't be lapsed while there is sufficient funds to pay the premiums.

But the executor presumably had notified AMP of the death and supplied a death certificate. However we've seen from the Westpac

case how computer coding can cause massive unintended consequences.






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"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
blacksheep
post Posted: Nov 20 2019, 09:19 AM
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ASIC chair vows to intervene as AMP continues to charge customers after death
By business reporter Daniel Ziffer
Updated about 8 hours ago
QUOTE
Revelations that scandal-prone financial giant AMP has continued to knowingly charge dead customers have been called "confronting and disappointing" by the head of Australia's corporate watchdog.

Key points:
ASIC chair James Shipton told a parliamentary inquiry he will personally be involved in the inquiry into allegations AMP continued to charge customer Daryl Oehm despite being informed of his death
Mr Shipton says the case is particularly disappointing as it occurred after the financial services royal commission exposed the "charging-the-dead" scandal
AMP had already been exposed for continuing to charge life insurance premiums to more than 3,000 customers who had died


Australian Securities and Investment Commission (ASIC) chair James Shipton told a Senate committee he was disturbed by the ABC's report on the treatment of customer Daryl Oehm.

The respected manager of a mental health unit at St Vincent's Hospital in Melbourne, Mr Oehm died in October last year.

His friend and executor Naomi Halpern spent months fighting with the company — while AMP sent emails to the dead man's account.

Mr Shipton said the case was disturbing because it occurred after the royal commission first exposed the practice.

"It was confronting and disappointing to me that this was still going on," Mr Shipton said.

"Let me say that we're making inquiries in relation to this and I'm personally very interested in what happened.

"One thing I will say and unfortunately this is a vignette, an example of where their system is … their systems are obviously failing and there isn't a magic, quick solution."

read more - https://www.abc.net.au/news/2019-11-20/asic...ection=business



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
joules mm1
post Posted: Nov 15 2019, 03:02 PM
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In Reply To: joules mm1's post @ Nov 7 2019, 02:55 PM

smooth move above the 2buk level, no blazing signals, this move will have a lot of attention about the possibility of a longer term low



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. . . . . . . . everything has an art.....in the instance of the auction process, the only thing, needed to be listened to; price
 
 


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