Offer made for Perpetual
A New York-based global private equity firm has made a play for Australian listed wealth manager Perpetual.
Perpetual's announcement to the Australian Securities Exchange said the offer from Kohlberg Kravis Roberts & Co was incomplete, conditional and non-binding.
The group is seeking to acquire all of Perpetual's shares via a scheme of arrangement for between $38.00 and $40.00 per share.
Perpetual has appointed Goldman Sachs and Freehills to advise on the matter, with the Perpetual board saying it was yet to form a view on the bid.
The offer represents a significant premium on Perpetual's current share price of $30.00.
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