IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Perpetual (PPT AU): EQT’s Further Revised NBIO Amps the Pressure on the Board

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Global Equity Research Ltd

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/perpetual-ltd" target="_blank" data-smartkarma-citation="entities:599:1" rel="noopener">Perpetual Ltd (PPT AU)</a> has received a revised non-binding indicative proposal from EQT at A$22.07 per share, a 2.0% premium to the previously rejected offer of A$21.64 per share. </li>
<li>While the revised offer remains below the Board’s rumoured floor price of A$25.00, it is reasonable compared to historical ranges and is a 42.4% premium to the undisturbed price. </li>
<li>Given the low premium to the earlier rejected offer, the Board is highly likely to reject the revised offer. Nevertheless, the Board will be under pressure to engage.  </li>
</ul>



Perpetual Ltd (PPT AU) has received a revised non-binding indicative proposal from EQT at A$22.07 per share, a 2.0% premium to the previously rejected offer of A$21.64 per share. 
While the revised offer remains below the Board’s rumoured floor price of A$25.00, it is reasonable compared to historical ranges and is a 42.4% premium to the undisturbed price. 
Given the low premium to the earlier rejected offer, the Board is highly likely to reject the revised offer. Nevertheless, the Board will be under pressure to engage.  


Washington H. Soul Pattinson and Co. Ltd (SOL AU)

Perpetual (PPT AU): EQT Returns with a Revised NBIO at A$22.07