KKR Bids Up To $40 A Share For Aussie Fund Manager

Law360, New York (October 18, 2010, 2:38 PM EDT) -- Australian financial firm Perpetual Ltd. said Monday that it had received an acquisition offer from Kohlberg Kravis Roberts & Co. that would value its shares at between AU$38 and AU$40 (between US$37.71 and US$39.69), a 29 percent premium on its Friday closing price.

KKR, a private equity firm that has made several noteworthy additions in 2010, put forth a conditional, nonbinding proposal to acquire all of Perpetual's shares via a scheme of arrangement, Perpetual said in a brief announcement.

Perpetual's shares, which had closed below AU$31...
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