Street Talk understands the two rivals’ boards were bedding down the final details on a deal on Wednesday evening, with expectations veering towards a script-based merger.
They’ve been going back and forth for the past four-months-and-a-half. But the result was expected to be quite similar to Perpetual’s initial approach of a 52 per cent slice of the combined group.
Perpetual’s CEO Rob Adams was expected to flesh out the merger ratio at its results tomorrow.
But for now, it looks like he’s staved off offloading its corporate trustee business to fund the deal.
Queensland Government’s specialist fund manager, State Investments, has committed to tipping $500 million into private debt via QIC’s freshly minted multi-sector private debt unit.
You have received this email because you are subscribed to Street Talk First Look with the email address: newsletter@newslettercollector.com
