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Perpetual and Pendal resume takeover dance

Jonathan Shapiro
Jonathan ShapiroSenior reporter
Updated

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Embattled investment firm Pendal says it is engaged in further takeover talks with rival firm Perpetual again, after rejecting its initial advances earlier in the year.

Both firms confirmed the talks just before market close on Tuesday after a week of takeover speculation in which Pendal’s share price shrugged off Friday’s lacklustre update, which had sent its stock to a new 52-week low.

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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com

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    Original URL: https://www.afr.com/companies/financial-services/perpetual-and-pendal-resume-takeover-talks-20220719-p5b2tc