Perpetual set for best week in nearly 18 years on rejecting EQT's $1.7 billion bid
BUZZ-Perpetual set for best week in nearly 18 years on rejecting EQT's $1.7 billion bid ** Shares of Perpetual PPT.AX rise as much as 2.9% to A$19.28, on pace for five straight sessions of gains
** Stock up 24.6% so far in the week, heading for its steepest weekly gain since mid-November 2008
** Asset manager on Wednesday rejected A$2.45 billion ($1.70 billion) takeover proposal from Swedish private equity firm EQT AB EQTAB.ST
** Indicative proposal at A$21.64 per share, a near 40% premium to stock's last close on Tuesday
** Shares rose about 17% on Wednesday before being placed on trading halt ahead of announcement
** Co says offer was highly conditional and did not adequately represent fair value for shareholders
** Shares erase YTD losses to gain 1.2%, including the day's moves
($1 = 1.4415 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
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