Chanticleer
Two things can be true in Perpetual’s shock break-up
Perpetual is trying to get shareholders to look strictly at the numbers in a bid to take emotion out of its break-up. KKR’s $2.2 billion of cash can’t hurt.
Fund manager Perpetual’s $2.2 billion break up is the most emotion-charged deal this decade.
Having schooled half the street for years, it’s unfathomable to plenty of Australian institutional equities’ sell and buy-sides that Perpetual is selling the farm: its corporate trust and wealth businesses and the 138-year-old brand.
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