KKR, Perpetual End Talks Over Potential Buyout

Private equity firm Kohlberg Kravis Roberts & Co. has ended discussions with Australia’s Perpetual after the two companies failed to agree on terms for a potential $1.7 billion buyout, Reuters reported. KKR had previously offered between $37.50 and $39.50 per share for the company.

(Reuters) – Private equity firm Kohlberg Kravis Roberts & Co has ended discussions over a $1.7 billion possible takeover of Australia’s Perpetual after the two sides failed to agree on terms.

KKR had bid A$38 to A$40 per share in October, which Perpetual called as low, but still offered to hold limited discussion to explore a higher offer.

Earlier this month three sources said KKR was looking at raising its offer by a small amount to try and gain full due-diligence.

(Reporting by Narayanan Somasundaram)