Perpetual Ltd

PPT: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$76.50	Lqrnxlx	Xbklhvjcx

Perpetual: Takeover Bid Is Lower Than Our Intrinsic Assessment

Shaun Ler

Dec 7, 2023

The indicative proposal from Washington H. Soul Pattinson, or WHSP, to acquire narrow-moat-rated Perpetual is at a price broadly in line with our AUD 27.50 per share fair value estimate on a stand-alone basis. The proposal was unsurprisingly rejected by Perpetual’s board on the same day, given the lack of any control premium.

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