The Perpetual Ltd (ASX: PPT) share price is in focus after the company rejected a further revised takeover proposal from EQT and confirmed the end of discussions. The $22.50 per share proposal was deemed by the board to undervalue Perpetual and carried too much execution risk.
What did Perpetual report?
- Rejected a further revised, non-binding buyout offer from EQT at $22.50 per share.
- Proposal included the option for a permitted dividend of up to $0.60 per share for 1H27.
- Board maintained its view that the offer undervalued the company.
- Sale of Wealth Management business remains on track for completion in Q4 FY26.
- Expected move to a net cash position after the sale, offering increased financial flexibility.
What else do investors need to know?
Perpetual says its engagement process with EQT has now concluded, as the latest proposal was described as “best and final” in the absence of competing offers. Shareholders are not required to take any action in response to this announcement.
The board also reiterated that the planned sale of its Wealth Management arm is proceeding as expected, with completion likely by the end of 2026. This sale is anticipated to enhance Perpetual’s financial position and allow more capital management initiatives in the future.
What’s next for Perpetual?
With the EQT engagement process now closed, Perpetual is focused on its core Asset Management and Corporate Trust businesses. Management highlights a continued commitment to delivering sustainable long-term value to shareholders.
Once the Wealth Management business sale wraps up, Perpetual expects to be in a net cash position, providing room to consider additional capital management options alongside dividends.
Perpetual share price snapshot
Over the past 12 months, Perpetual shares have risen 3%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.
The post Perpetual rejects EQT’s final offer and confirms asset sale plans appeared first on The Motley Fool Australia.
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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.