Shares cling to small gain as Pendal soars
Vesna PoljakCompanies editor
Pendal shares stormed into the closing bell on Thursday after a court ruling made it almost impossible for Perpetual to wriggle out of its proposed merger with the fund manager.
The NSW Supreme Court ruled that Perpetual would be liable for further relief if it walked away from the merger to entertain an approach from a consortium pairing Regal Partners and the cashed up private equity interests of BPEA-EQT.
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