Perpetual, Pendal agree on terms of revised takeover offer

Posted by Anton Murray Consulting on 21 Nov, 2022

InvestorDaily

The wealth management companies have struck a new deal, which includes a reduction in the cash component and an increase in the scrip consideration. Perpetual Limited has agreed to revise the cash and scrip consideration mix of its offer to purchase 100 per cent of shares in Pendal Group. Under the revised terms, Pendal shareholders would receive one newly issued share in Perpetual, in exchange for seven Pendal ordinary shares and $1.65 cash per Pendal share.

Perpetual had previously offered one newly issued share in exchange for 7.50 Pendal ordinary shares and $1.976 cash per Pendal share. This represents a 16.5 per cent reduction in the cash component. There has been no revision to the $6.54 offer price, which was based on Perpetual’s undisturbed share price of $34.23 as of 1 April 2022.

The rest of this article can be found at investordaily.com.au.

Latest market insights

Global X ETFs introduces US infrastructure development fund on ASX

› Read more

GDG confirms Lonsec acquisition 

› Read more

Australian Ethical to grow FUM above $12bn with new acquisition

› Read more

Total super assets climb past $3.8 trillion

› Read more

Active Super, Vision Super confirm merger date 

› Read more

X feed

Our client is seeking a manager for the Performance and Analytics team in Singapore, responsible for the leadership and management of one of the two reporting and analytics teams within the P&A function: https://ow.ly/WmG450SamqA

The successful candidate will have responsibility for providing Client Service Management and Operational support services for clients in the Alternative Unlisted assets industry including Property, Private Debt, Credit and Private Equity funds: https://ow.ly/FfT250S6lGs

Our client is seeking a manager for the Performance and Analytics (P&A) team, responsible for the leadership and management of one of the two reporting and analytics teams within the P&A function: https://ow.ly/th5p50S1un8

Active Super, Vision Super confirm merger date: https://ow.ly/Aljm50RXmzI

Sign up to our newsletter

Sign up to our newsletter

"*" indicates required fields

By subscribing to our newsletter I agree to the collection, use and disclosure of my personal information in accordance with our Privacy Policy