Perpetual Ltd
(ASX:PPT) says takeover talks with private equity firm Kohlberg Kravis Roberts (KKR) have ended after both companies failed to develop mutually acceptable terms in relation to KKR’s proposal.
In October, Perpetual received a $1.75 billion takeover offer from KKR, which the company rejected as the proposed price didn’t reflect its value.
Perpetual, which is currently in the process of selecting a new chief executive, says following the termination of talks with KKR, it expects to appoint a new CEO shortly.
For the year ended 30 June 2010, Perpetual reported a net profit of $90.7 million.
