Perpetual in Exclusive Talks with KKR on Possible Deal.

Perpetual Ltd., an Australian money manager, has confirmed that it is in exclusive talks with KKR & Co., a US private equity firm, regarding the potential acquisition of its corporate trust and wealth management businesses. However, there is no guarantee that a binding agreement will be reached or that a transaction will proceed. KKR's interest in Perpetual comes after the company rejected a A$3.5 billion takeover offer from Washington H Soul Pattinson & Co. in December. Perpetual began a review of its corporate trust and wealth management units in December to explore ways to unlock value for shareholders and create a more focused asset management business. [Extracted from the article]