Gobbling up other fund managers wasn’t enough to shield Perpetual from the headwind buffeting stock pickers.
Hostilities have broken out over wealth powerhouse Perpetual’s deal to sell two of its major divisions and brand to private equity giant KKR.
Perpetual’s board and management have come under fire from former star employees who say strategic and financial decisions have made the diversified financial group an attractive takeover target.
Fund manager Perpetual could spin off its corporate trust and wealth management divisions as the company looks to focus on its flagship asset management business.
Perpetual started a new chapter through its merger with Pendal on Monday,in a deal that has faced scepticism from some in financial markets.
With Perpetual’s share price being buffeted by recent events,is the historic fund manager a good investment?
A NSW Supreme Court ruling has made it harder for potential bidders to make a play for Perpetual.
Perpetual boss Rob Adams insists the fund manager’s planned merger with Pendal is still a goer,despite growing market scepticism that the tie-up is in trouble.
Investors are betting Perpetual’s plan to buy rival fund manager Pendal could fall over,after Regal Partners and a private equity firm raised their bid for Perpetual.
An opportunistic takeover bid for fund manager Perpetual has raised the possibility of an alternative direction for the business,which has been busy expanding its footprint.
The $2.5 billion deal,which has been negotiated over months,will deliver the asset manager more scale to compete globally.