Perpetual Rejects EQT's Final Proposal
Key points
- Perpetual rejected EQT's latest proposal
- Proposal valued at $22.50 per share
- Board deems proposal undervalues Perpetual
- Engagement with EQT concluded
- Wealth Management sale progressing
Full summary
Perpetual Limited (ASX:PPT) has rejected a final non-binding proposal from EQT to acquire 100% of its shares for $22.50 per share. The proposal, deemed a best and final offer, was rejected by the Perpetual Board as it still undervalues the company and does not align with shareholders' interests. The process with EQT has concluded, and Perpetual remains focused on its strategic priorities, including the planned sale of its Wealth Management business.
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