Australia's Perpetual receives $22.50 buyout offer from EQT

• Perpetual receives a revised buyout proposal from EQT AB valued at $22.50 per share.
• The offer marks a 2% increase from the previous proposal and a 4% rise from the initial offer.
• The potential deal remains conditional on due diligence, regulatory approvals, and the sale of the wealth management arm.

Perpetual (ASX:PPT) has received a revised non-binding takeover proposal from EQT AB via Windflower offering $22.50 per share to acquire 100% of the company.

The target price represents a 2% increase over the previous $22.07 proposal submitted earlier in July 2026 and a 4% increase over the original $21.64 bid.

The proposal is subject to conditions including regulatory approvals, satisfactory due diligence execution, and the finalisation of the sale of Perpetual's Wealth Management business to Bain Capital.

The Perpetual board stated that it is assessing the revised proposal alongside its advisers and has not yet formed a view on its merits or made any recommendation to shareholders.

Following the announcement, the Perpetual share price was unchanged at $18.92.

The board stated that it remains focused on executing its simplification programme and driving value across its corporate trust and asset management arms.

The financial services firm stated that it will keep the market updated regarding further developments in line with its disclosure rules.