Swedish private equity firm EQT increases its bid for Perpetual to A$2.6bn, valuing shares at A$22.50, up 2% from its prior proposal.
EQT AB has raised its takeover bid for Australian investment manager Perpetual to approximately A$2.6bn ($1.8bn), valuing the company at A$22.50 per share. The revised offer marks a 2% increase from EQT’s A$22.07-per-share proposal earlier this month and a 4% rise from its original bid.
Perpetual’s board confirmed the new proposal remains highly conditional, dependent on due diligence, regulatory approvals, and the completion of its A$550 million wealth management sale to Bain Capital. The board is reviewing the offer with advisers but has not yet formed a view on its merits.
The company reiterated no recommendation has been made to shareholders, emphasizing confidence in its standalone strategy and the pending wealth management divestment.