It’s been two-and-a-half months since Perpetual disclosed that it had rejected a $22.50-a-share bid from Swedish private equity firm EQT. Fed-up shareholders were told of the rejection alongside an update which showed the seemingly endless flow of money out of its global asset management empire continued at pace.
Perpetual has since lost a $US4.6 billion ($6.44 billion) mandate while trading multiples for the ASX-listed company’s global peers have come off some 20 per cent. Investors would be hoping Perpetual’s Gregory Cooper-chaired board are having a good, hard think about the latest proposal under consideration from their determined private equity suitor.
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