Australia's Perpetual rejects $1.1b bid from BPEA EQT, Regal
Australia-based asset manager Perpetual has rejected a buyout offer from BPEA EQT – formerly Baring Private Equity Asia – and listed alternatives manager Regal Partners that values the company at approximately AUD 1.7bn (USD 1.07bn).
Perpetual said in a filing that the offer of AUD 30.00 per share materially undervalues the business, The board also resolved to push ahead with the AUD 2.5bn acquisition of rival asset manager Pendal...
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