EbeneMagazine – AU – Why AMP (ASX: AMP) Stock Price Could Soar Today

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Motley Fool Australia »Acquisitions» Why AMP (ASX: AMP) Share Price Could Soar Today

Brendon Lau | October 30, 2020 9:47 am | Find out more: AMP BLD MFG PPT SUN ASX 200

AMP Limited (ASX: AMP) share price could skyrocket this morning on buyback reports

Management has confirmed that Ares Management Corp Class A (NYSE: ARES) has launched an offer to the entire troubled asset manager

But the shareholders (myself included) will have to pinch themselves so as not to be too excited The takeover proposal is indicative and not binding

However, I know this is a decent offer as management is engaging with the suitor, even though AMP has said these negotiations are « very preliminary »

Is AMP trying to lower expectations? The Australian Financial Review reported that things may not be so preliminary as AMP allows the bidder to look under the hood as part of the due diligence process

The article even described the two sides as being in « advanced talks » and highlighted the interconnections between senior management at AMP and Ares Many appear to be former colleagues at Swiss investment house Credit Switzerland

This doesn’t mean that a deal is guaranteed, of course, but it would certainly improve the likelihood of a deal being made

Even so, AMP is quick to point out that it has received « significant interest » from other parties in some or all of its business

Scandal-stricken AMP conducts portfolio review as it tries to restructure the business It recently sold its life insurance business and experts believe it will have to cut to greatness if he has the slightest hope of ever regaining his former glory

The AMP stock price has slumped almost 80% in the past five years when the S&P / ASX 200 index (index: ^ AXJO) jumped almost 16%

Other industry players are also doing better The Perpetual Limited (ASX: PPT) share price “only” lost 38% while the Magellan Financial Group Ltd (ASX: MFG) jumped 155% over the period

AMP’s stock price rally approach shouldn’t surprise readers of this site Just two days ago, I wrote about the potential suitors running the group

I think we will also see more asset buybacks and sales in the coming months. Other possible candidates include the troubled Boral Limited (ASX: BLD) share price and the stock price. ‘share Suncorp Group Ltd (ASX: SUN)

Little-known Australian IPO has doubled in value since January, and famed Australian stock picker Moonshot Anirban Mahanti sees potential millionaire in the wait

Because ‘Doc’ Mahanti thinks this fast growing company has all the hallmarks of true Moonshot potential, forget ‘buy now, pay later’, this action could be the next hot action on the ASX

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Brendon Lau owns shares of AMP Limited Join me on Twitter @brenlauThe Motley Fool Australia doesn’t have a position in any of the stocks mentioned We fools might not all have the same opinions, but we all believe that taking a wide range of information into account makes us better investors The Motley Fool has a disclosure policy This article contains general investment advice only (under AFSL 400691) Authorized by Scott Phillips

In this FREE SCHOLARSHIP REPORT, Scott Phillips just revealed what he believes are the 3 ASX stocks for the post-COVID world that investors should buy right now while they still can

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This service only provides general, non-personalized financial advice, and has not taken into account your personal situation The Motley Fool Australia operates under AFSL 400691 For more information, please see our Financial Services Guide No. remember that investments can go up and down Past performance is not necessarily indicative of future performance The Motley Fool Australia does not guarantee performance or return on investment

AMP Limited, Ares Management, ASX, Takeover, Finance, Investment Management, ASX: AMP, Stock

EbeneMagazine – AU – Why the AMP share price (ASX: AMP ) could be set to soar today



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