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Nov 10 (Reuters) - Australian asset manager Perpetual Ltd said on Thursday it rejected a higher A$1.85 billion ($1.19 billion) bid from EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners.
Perpetual said the revised bid "continues to materially undervalue the company".
Shares of Perpetual rose 2.4% to A$29.80 in early trade, while the broader market was down 0.4%.
The new bid, at A$33 a share, represents a 13.4% premium to Perpetual's last cl...
>>> Read more: UPDATE 2-Australia's Perpetual rejects improved $1.19 bln buyout offer
Nov 10 (Reuters) - Australian asset manager Perpetual Ltd said on Thursday it rejected a higher A$1.85 billion ($1.19 billion) bid from EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners.
Perpetual said the revised bid "continues to materially undervalue the company".
Shares of Perpetual rose 2.4% to A$29.80 in early trade, while the broader market was down 0.4%.
The new bid, at A$33 a share, represents a 13.4% premium to Perpetual's last cl...
>>> Read more: UPDATE 2-Australia's Perpetual rejects improved $1.19 bln buyout offer
