Key facts
- Perpetual has received a revised takeover proposal from EQT AB.
- The new offer values the company at A$2.50 billion ($1.75 billion).
- This bid is 2% higher than EQT's initial offer.
- The proposal is contingent on the sale of Perpetual's Wealth Management business to Bain Capital.
- Perpetual previously rejected an earlier bid of A$2.45 billion.
Australian financial services firm Perpetual announced it has received a revised non-binding takeover proposal from Swedish private equity firm EQT AB. The latest offer values the company at A$2.50 billion, equivalent to $1.75 billion. This revised bid comes after Perpetual rejected an earlier A$2.45 billion offer from EQT earlier in July. The Perpetual board is assessing the new bid, though it cautioned that no certainty exists of a binding transaction. The offer is contingent on the sale of Perpetual's Wealth Management business to Bain Capital.