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)
News: WBC Australia's Pendal in talks with Perpetual for potential transaction
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$38.98 |
Change
0.250(0.65%) |
Mkt cap ! $133.3B | |||
| Open | High | Low | Value | Volume |
| $38.71 | $39.13 | $38.64 | $320.9M | 8.564M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 154 | $38.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.00 | 10000 | 1 |
View Market Depth
| Last trade - 16.19pm 22/08/2025 (20 minute delay) ? |
| WBC (ASX) Chart |