Two things can be true in Perpetual’s shock break-up
Perpetual is trying to get shareholders to look strictly at the numbers in a bid to take emotion out of its break-up. KKR’s $2.2 billion of cash can’t hurt.
Fund manager Perpetual’s $2.2 billion break up is the most emotion-charged deal this decade.
Having schooled half the street for years, it’s unfathomable to plenty of Australian institutional equities’ sell and buy-sides that Perpetual is selling the farm: its corporate trust and wealth businesses and the 138-year-old brand.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
