Ares Management terminates the $4.5bn acquisition of AMP.

Ares Management terminated the $4.5bn acquisition offer for AMP, a financial services company in Australia and New Zealand. Ares is still interested in AMP Capital, the firm’s asset management unit that invests across unlisted real estate, infrastructure and global markets. The offer for the whole company was abandoned partly because of concerns over the deteriorating performance of AMP’s wealth management business.