Australia's Perpetual set for worst day in over six years after rejecting EQT's latest bid

Perpetual

21/09/2026 01:31

** Shares of Perpetual PPT.AX fall 14% to A$16.86, on track to lose their most since March 2020 if trends hold 
** Shares hit their lowest level since July 1
** Asset manager rejects another higher takeover offer from EQT AB EQTAB.ST  
** The A$22.5 apiece offer represents a 14.8% premium over the stock's last close
** Offer is above the group's earlier bids of A$21.64 a share on July 1 and A$22.07 apiece in mid-July
** Stock down 9.3% YTD, including moves in the current session

(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((Jasmeenaraislam.Shaikh@thomsonreuters.com;))