Street Talk

Perpetual board meets to deliberate KKR’s new bid

Sarah Thompson, Kanika Sood and Emma Rapaport

Feb 23, 2025 – 4.21pm

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It’s crunch time for Perpetual’s Tony D’Aloisio-chaired board. Sources said D’Aloisio summoned Perpetual’s directors for a board meeting on Sunday morning, as he races against the clock to come up with a verdict on KKR’s recut bid for its corporate trustee and wealth units before half-year results on February 27.

The private capital giant has restructured its $2.2 billion bid to alleviate the hefty tax bill estimate for Perpetual shareholders, as revealed by this column last week.

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.