ASX Market Update
ASX 200 up 11 points to 7804
Perpetual ( $Perpetual Ltd(PPT.AU$ ) shares fell 7.08% to $22.32 after announcing the sale of it’s best business units to KKR….Below is how they summarized the deal:
Strong outcomes for shareholders??? Unlocking value??? Has the PPT board been in Bali lately – tucking into some SPECIAL mushroom omelettes?….In reality they delivered a strong outcome for KKR and their investors.
In hindsight, the PPT board should have put shareholders out of their misery back in 2022 by accepting the $33 per share takeover offer from Regal and EQT. $S&P/ASX 200(.XJO.AU$
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