Perpetual rejects second PE consortium bid
Perpetual has knocked back another bid from the BPEA Private Equity and Regal Partners group.
The company announced to the Australian Securities Exchange (ASX) that it had received a further unsolicited, conditional, non-binding indicative proposed from the group and had decided to reject.
The revised propose entailed $33 cash per share up from the original bid of $30 cash per share.
However, Perpetual’s board said it continued to materially undervalue the company.
It said the Board had considered a number of factors, including value, high conditionality, transaction and execution risks in rejecting the second proposal,
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