EQT Raises Perpetual Offer to AUD2.55bn in Third Takeover Approach

Revised bid again kicks up Perpetual shares

Shareholders in Perpetual Limited continue to rub their hands with the company’s share price having already rocketed up by more than $4 in less than a month on the back of continuing takeover interest from Swedish-based private equity player, EQT AB. Perpetual’s share price was loitering around $15.20 on 28 June and closed yesterday at around $19.50 having ticked up after the board announced that EQT AB had sweetened its proposal with a further …

EQT raises Perpetual offer to AUD2.55bn in third takeover approach

Swedish private equity firm EQT has increased its offer for Australian asset manager Perpetual to AUD2.55bn, marking its third approach for the company this month, according to a report by Reuters. The latest proposal values Perpetual at AUD22.50 per share, representing a premium of almost 19% to the company’s previous closing price. It follows two earlier offers that were rejected by the Australian group as undervaluing the business. EQT’s init…

EQT AB lifts Perpetual bid to $22.50 a share

EQT AB has again upped its takeover bid for Perpetual, raising the offer price to $22.50. The private equity firm put in a revised offer price yesterday, which represents a 2% increase on the previous $22.07-per-share proposal announced in mid-July and a 4% increase on its original $21.64-per-share bid lodged on July 1. Perpetual said the proposal remains highly conditional and is subject to a range of requirements, including the satisfactory co…