July 19 (Reuters) - Australian investment manager Pendal Group...

July 19 (Reuters) - Australian investment manager Pendal Group (PDL) said on Tuesday it was in talks with Perpetual Ltd (PPT) regarding a potential transaction, about three months after rejecting the asset manager's A$2.40 billion takeover offer.

Discussions are not sufficiently advanced to warrant further disclosure to shareholders, Perpetual said in a separate statement.

Pendal, a former subsidiary of Westpac Banking Corp (WBC) , said in April the A$6.23-per-share offer from Perpetual "significantly undervalued" the company and not in the best interest of its shareholders.

As of Monday's close, Pendal had a market value of A$1.45 billion ($993.40 million). Shares of the company rose 4.4% before going on trading halt, while those of Perpetual were down 0.3%.

Perpetual said it would not require an equity raising for any potential transaction.

($1 = 1.4596 Australian dollars)