Oct 30 (Reuters) - AMP Ltd said on Friday U.S.-based Ares Management Corp had made an indicative offer to buy the Australian wealth manager, adding that discussions were at an early stage.
The company did not disclose the offer value. Local media in Australia initially reported on the discussions, saying Ares had made an offer of over A$5 billion ($3.56 billion). AMP had a market value of A$4.40 billion as of Thursday.
$1 = 1.4027 Australian dollars Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Vinay Dwivedi