Washington H. Soul Pattinson and Company Limited made an indicative proposal to acquire Perpetual Limited (ASX:PPT) for AUD 2.7 billion on November 21, 2023. The Indicative Proposal is subject to satisfactory completion of confirmatory due diligence by WHSP, the execution of transaction documentation and a unanimous recommendation from the Perpetual Board that shareholders vote in favor of the Indicative Proposal, as well as other customary conditions.

WHSP has appointed Macquarie Capital as its financial adviser and Ashurst as its legal adviser. BofA Securities and Goldman Sachs are acting as financial advisers with Herbert Smith Freehills acting as legal adviser to Perpetual.

Washington H. Soul Pattinson and Company Limited cancelled the acquisition of Perpetual Limited (ASX:PPT) on December 6, 2023. Perpetual Limited board has rejected the offer due to inadequate price offer.