I'm assuming a much bigger debt funding component from Perpetual which means more cash for us. The fact that Perpetual didn't go into a trading halt suggests to me that it is very preliminary and that Perpetual would probably be pissed off that Pendal chose to leak it in the hope of drawing in other bidders.
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- Ann: PPT: Perpetual responds to Pendal announcement
Ann: PPT: Perpetual responds to Pendal announcement, page-6
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