Perpetual has knocked back a non-binding acquisition proposal offer from Regal Partners and BPEA EQT Fund.

Announced on the ASX on Thursday morning, the cash proposal would have been for 100 per cent of all shares by way of scheme of arrangement for a price of $30 per share.

The proposed entity would have $90 billion in assets under management across high-net-worth and retail clients.

The consortium believes the deal offers better value to shareholders than the acquisition proposal from Pendal which Perpetual will continue to pursue.

The post Perpetual knocks back surprise proposal amid Pendal deal appeared first on Professional Planner.

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