Perpetual Limited is a financial services company that has two primary activities, wealth management services and corporate trust services.
The Company provides funds management, responsible entity services, trustee services, executor services, financial planning, investment administration, superannuation, custody and registry services. The group is listed on the Australian Stock Exchange and is a member of the S&P/ASX 200
Perpetual shares soared today after rumours emerged that a private equity firm is preparing to approach the asset manager with a takeover offer around $30 a share.
The company has said “Perpetual is not aware of any information relevant to the article and has no reason to believe that the article is anything other than mere speculation.”
If there is an offer it will be the second in two years. The company rejected an offer from private equity firm KKR in 2012 of $38-$40 a share.