The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

Mergers & Acquisitions•1 July 2026•

1 min read

Australia's Perpetual rejects EQT's $1.69 billion takeover bid

Key Facts

1Australia's Perpetual rejected a non-binding takeover proposal from Swedish private equity firm EQT AB valuing the company at A$2.45 billion ($1.69 billion) over valuation concerns.

In a move highlighting board caution toward takeover bids in the Australian financial services sector, Perpetual Limited has rejected a non-binding acquisition proposal from Swedish private equity firm EQT AB. According to media reports, the offer valued the company at A$2.45 billion ($1.69 billion), but the board deemed the valuation insufficient, leading to the rejection.

The rejection comes after Australia's employment data released on June 25 showed stronger-than-expected job gains (40.3k vs 30k forecast), bolstering confidence in the domestic economy and potentially pushing future bids higher. Valuations in the Australian financial services sector have been mixed, meaning any deal of this size would require a larger premium to win shareholder approval.

Investors are now watching for any further developments, including a possible improved offer from EQT or the emergence of another suitor. Market sentiment remains cautious in the absence of additional official comments from either party, amid a broader global slowdown in M&A activity.