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New Deal


Announced

Perpetual to acquire Pendal for $1.8bn.

Financials

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Transaction Value£1,369m
Consideration TypeCash, Ordinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium39.2%
One Off Charge-

Sources

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Tags

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Majority

Public

Asset Managers and Custodians

funds

investment management company

Australia

Domestic

Acquisition

Single Bidder

Private Equity

Pending

Friendly

Synopsis

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Perpetual, an Australian investment fund and trustee group, offered to acquire Pendal, an independent global investment management business, for $1.8bn. The Board of Pendal has commenced an assessment of the Indicative Proposal, considering the value of Pendal on a strategic and control basis. The Board is also carefully assessing the outlook for Perpetual and the proposed combined group given the significant scrip component of the proposed consideration.

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