Perpetual Ltd Rejects Revised Proposal from EQT AB
Key points
- Perpetual Board concludes revised proposal is not in shareholders' best interests
- Company to offer EQT limited access to non-public information
- Perpetual remains confident in its strategy and future execution
Full summary
Perpetual Limited (ASX:PPT) has announced that its board has concluded the further revised non-binding, conditional, and indicative proposal from EQT AB is not in the best interests of Perpetual shareholders. The proposal, which offered A$22.50 per share, was carefully considered alongside advice from financial and legal advisers. The board remains confident in the company's strategy and the execution of its Simplification Program, diversified earnings profile, and the sale of Wealth Management. Perpetual will provide EQT with limited, non-public information to determine if an improved proposal can be formulated. This provision is not a guarantee of a binding offer or a recommended offer.
Outlook
Perpetual remains confident in executing its strategy and the value of its diversified earnings profile.
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