Regal Partners Limited (ASX:RPL) and Morello Pte. Limited made an offer to acquire Perpetual Resources Limited (ASX:PEC) for AUD 1.7 billion on November 4, 2022. Regal and Morello is paying AUD 30 per share. On November 8, 2022, Under the Revised Indicative Proposal, Regal Partners Limited (ASX:RPL) and Morello Pte. Limited made revised offer to acquire Perpetual Resources Limited (ASX:PEC) for AUD 1.9 billion. The Consortium is offering AUD 33.00 cash per share.Regal and the BPEA EQT Fund have agreed that Regal will seek to acquire the asset management businesses of Perpetual and, simultaneously, the Morello will seek to acquire the Perpetual Corporate Trust and Private Clients businesses. The transaction is subject to due diligence, a unanimous recommendation from the Board of Perpetual, the BPEA EQT Fund's final internal approvals, final Regal Board approval and the termination of the Scheme Implementation Deed with Pendal. Perpetual Resources Board reject the offer. The Regal Partners notes that the Improved Proposal has been rejected by the Board of Perpetual without discussion with the Consortium. On November 3, 2022 & on November 10, 2022, Perpetual's Board advises shareholders to take no action at this time. Goldman Sachs Australia Pty Ltd acted as financial advisor to Perpetual Limited.

Regal Partners Limited (ASX:RPL) and Morello Pte. Limited cancelled the acquisition of Perpetual Resources Limited (ASX:PEC) on November 10, 2022.