Perpetual Ltd (ASX:PPT) says its value is not reflected in the takeover offer from US private equity firm Kohlberg Kravis Roberts.
In October the wealth manager was approached by Kohlberg Kravis Roberts to acquire all of Perpetual's shares via scheme of arrangement at an offer price of between $38 to $40 per share.
While Perpetual says its value is not reflected in this offer, it will explore potential opportunities through discussions with the equity firm to determine if an alternative offer can be devised.
Perpetual says it would offer limited financial information to Kohlberg Kravis Roberts and will advise shareholders on the outcome of the discussions as soon as practicable.
Perpetual posted a $90.72 million profit in the 2010 financial year.
PPT Price at posting:
$37.83 Sentiment: None Disclosure: Held
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