Perpetual and Pendal’s merger has been held up after a late Friday afternoon court hearing at which lawyers acting for the private equity and hedge fund consortium that has bid for Perpetual made a surprise appearance.
Perpetual’s lawyers argued, in a small, standing-room-only courtroom, that Pendal’s scheme process to approve its takeover should be delayed by seven days.
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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
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
