Perpetual canvasses demerger
![Kneip, Nasdaq Fund Network, FNZ, partnership,](https://financialnewswire.com.au/wp-content/uploads/Shutterstock_2187750599.jpg)
Having barely settled down its acquisition of Pendal, Perpetual Limited is now canvassing the possibility of a demerger involving its Corporate Trust and Wealth Management businesses.
In an announcement released to the Australian Securities Exchange (ASX), Perpetual said the move was aimed at creating a more focused Asset Management business.
Within hours, Perpetual received a non-binding takeover offer from Soul Pattersons.
The ASX announcement noted that the company had in October highlighted that its growth strategy had “provided Perpetual with three quality businesses of scale”.
It said this had enabled the Board to assess additional strategic options that might arise to maximise value to shareholders.
“Perpetual announces that since the AGM it has further progressed the evaluation of those strategic options and will be exploring benefits of unlocking additional value for Perpetual shareholders through separation of its Corporate Trust and Wealth Management businesses and creating a more focused Asset Management Business,” the ASX announcement said,
The Perpetual announcement prompted an immediate 5% spike in the company’s share price which had been on an upward trajectory since around mid-October.
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