|Bid||1.3750 x 0|
|Ask||1.3750 x 0|
|Day's Range||1.3250 - 1.4100|
|52 Week Range||1.0800 - 2.3600|
|Beta (5Y Monthly)||0.94|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 13, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb 27, 2019|
|1y Target Est||2.60|
SYDNEY/HONG KONG, March 16 (Reuters) - At least three Australian takeovers potentially worth a combined $1.2 billion are facing lower prices and contract conditions, three sources said, as financial market turmoil sparked by the coronavirus has made it difficult for advisers and bidders to put price tags on deals. The rethinking on price comes as dealmakers had hoped Australia's relatively low number of coronavirus cases would leave it as a dealmaking sweetspot, while so many other Asia-Pacific economies, including China, the region's biggest driver of takeovers, were hit hard by the virus. Some bidders for Australian and New Zealand Banking Group's car lender UDC Finance and AMP's New Zealand wealth management business are lowering their offers and adding conditions due to the COVID-19 market chaos, two sources with knowledge of the deals said.
AMP is battling to steady itself a year after a public inquiry into the finance sector accused it of improperly charging fees and attempting to deceive regulators. In June 2018, the Australian Securities and Investment Commissions accused reut.rs/372nwmu the firm's financial planners of advising clients to cancel existing insurance policies and apply for new similar replacement policies, so as to win higher commissions.
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Australia's corporate regulator said on Wednesday it has been conducting long-term on-site monitoring at the offices of major banks and wealth manager AMP Ltd since October, after a probe into the sector revealed wide-ranging misconduct. The country last year granted the Australian Securities and Investments Commission (ASIC) powers to place supervisors inside firms after a broad inquiry into the sector exposed systemic wrongdoing by some of the Australia's top financial institutions. ASIC said its staff have been conducting on-site reviews for 164 out of 222 working days since October 2018.
Australia's investment regulator said on Wednesday its staff have been on-site at the offices of Australia's major banks and wealth manager AMP Ltd since October last year to monitor firms after a probe into the sector. The Australian Securities and Investments Commission (ASIC) said its staff have been conducting on-site reviews for 164 out of 222 working days since October 2018. The country granted ASIC powers to place supervisors inside firms last year after a broad inquiry into the sector exposed systemic wrongdoing by some of the Australia's top financial institutions.
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