Company Interview / Market Update | AMP, Insignia Financial, Abacus Storage King, Block, AVJennings

AMP has reported a sharp improvement in cashflows across its core businesses in the second quarter, marking a return to growth in its Superannuation & Investments division for the first time in eight years. The group’s Platforms business delivered a 63% increase in net inflows compared to June quarter last year to $1.56 billion.

Insignia Financial says it remains in discussions with US-based private equity firm CC Capital over a potential $3.4 billion takeover of the company. The talks follow a non-binding and indicative proposal by CC Capital to acquire all shares in Insignia via a scheme of arrangement.

Abacus Storage King has granted the consortium of Ki Corporation and Public Storage access to examine the company's books and records for six weeks to evaluate its $2.17 billion binding acquisition proposal.

Block shares in the US jumped after the bell after S&P Dow Jones Indices said the company will join the S&P 500.

And home builder AVJennings has declared a fully franked special dividend of $0.167 per share, conditional on the proposed acquisition by American real estate giant Proprium Capital Partners.