(Adds background on previous offer)
Nov 10 (Reuters) - Australian asset manager Perpetual Ltd (PPT) said on Thursday it rejected a higher A$1.85 billion ($1.19 billion) bid from EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners (RPL) .
Perpetual said the new bid "continues to materially undervalue the company".
The new bid, at A$33 a share, represents a 13.4% premium to Perpetual's last closing price. The consortium had previously offered A$30 a share, which Perpetual rejected.
Perpetual is also under investigation from the country's securities regulator because of a spike in its share price in the final minute of trading a day before it announced the A$30 per share bid.
The company is also in the process of acquiring rival Pendal Group (PDL) for A$2.51 billion.
BPEA is one of the largest private equity players in the region, and was acquired by EQT in March. ($1 = 1.5555 Australian dollars)
News: PPT UPDATE 1-Australia's Perpetual rejects improved $1.19 bln buyout offer
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$19.59 |
Change
0.050(0.26%) |
Mkt cap ! $2.253B | |||
| Open | High | Low | Value | Volume |
| $19.60 | $19.78 | $19.47 | $1.337M | 67.95K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 9 | $19.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.60 | 241 | 15 |
View Market Depth
| Last trade - 13.39pm 12/09/2025 (20 minute delay) ? |
| PPT (ASX) Chart |