EL7.AI
Mergers & AcquisitionsMedium•29 July 2026•
1 min read

Perpetual Rejects EQT's $1.78 Billion Bid, Grants Limited Due Diligence

Key Facts

1Australia's Perpetual rejected a A$2.55 billion ($1.78 billion) takeover bid from Swedish buyout firm EQT AB.
2Perpetual decided to grant EQT limited due diligence access to allow for a potentially improved offer.

In a move reflecting cautious board sentiment toward asset valuations in the wealth management sector, Australia's Perpetual rejected a A$2.55 billion ($1.78 billion) takeover bid from Swedish firm EQT AB. According to reports, the company decided to grant EQT limited due diligence access to allow for a potentially improved offer. This decision follows the board's assessment that the current proposal is not in the best interests of shareholders.

The board of Perpetual stated that the current proposal does not reflect the firm's fair value, leading to a negotiating stance that balances initial rejection with openness to superior deals. Within the Australian economic context, market data from July 23, 2026, showed the unemployment rate holding steady at 4.4% alongside strong employment growth of 76.3k jobs. These positive indicators reinforce the appeal of local financial services firms to international investors seeking acquisition opportunities.

Investors are now watching for EQT's response and whether the Swedish firm will raise its bid following the limited data review. Traders are awaiting official updates regarding the progress of the due diligence process as a primary catalyst for price action.