Good article in today's Saturday Paper about Perpetual's important role as one of the only 2 remaining significant Trustee management companies in Australia and the risk associated with having KKR in that role.
I'm a PPT shareholder but after reading the article I absolutely believe ASIC should block the sale, at least until laws are strengthened. Management really have stuffed this company to the point that they need KKR to come in and rip off the entire country in order to recoup some of the money wasted on Pendal and the like.
PPT Price at posting:
$21.51 Sentiment: Hold Disclosure: Held
(20min delay)