KKR offers $1.73Bn for Australia fund manager

KKR has bid around $1.73 billion for Australian fund manager Perpetual, based on an offer of A$38 to A$40 per share, a 29 percent premium on the fund manager’s Friday close. Perpetual said it was considering the bid.

(Reuters) – Private equity firm Kohlberg Kravis Roberts & Co has bid A$38 to A$40 a share for Australia’s Perpetual, valuing the fund manager at up to US$1.73 billion, a 29 percent premium to Friday’s close.

Perpetual, which has retained Goldman Sachs as its adviser, said it was considering the indicative, non-binding proposal and asked shareholders to take no action immediately. (Reporting by Narayanan Somasundaram; Editing by Mark Bendeich)