Street Talk

KKR rolls the dice with bigger Perpetual offer

Sarah Thompson, Kanika Sood and Emma Rapaport

Feb 16, 2025 – 4.43pm

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There’s hope yet for Perpetual’s ill-fated break-up.

Two months after KKR’s $2.2 billion bid for the 139-year-old investment house’s corporate trust and wealth units was derailed by an unwelcome tax bill, Street Talk understands the Michael Stock-advised private equity firm has returned with an enhanced all-cash proposal in excess of $8 a share.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.