(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)
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News: RPL UPDATE 1-Australia's Perpetual rejects improved $1.19 bln buyout offer
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Last
$3.08 |
Change
0.030(0.98%) |
Mkt cap ! $1.043B |
Open | High | Low | Value | Volume |
$3.04 | $3.13 | $3.02 | $1.320M | 427.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6500 | $3.07 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.09 | 10957 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6500 | 3.070 |
1 | 537 | 3.060 |
1 | 8360 | 3.030 |
2 | 6600 | 3.000 |
3 | 14146 | 2.990 |
Price($) | Vol. | No. |
---|---|---|
3.090 | 10957 | 1 |
3.130 | 6000 | 1 |
3.140 | 12000 | 1 |
3.150 | 16238 | 4 |
3.190 | 6782 | 2 |
Last trade - 16.10pm 07/08/2025 (20 minute delay) ? |
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RPL (ASX) Chart |