Australia's Perpetual rejects higher $1.19 billion buyout offer

Australian asset manager Perpetual Ltd said on Thursday it received a higher bid from EQT-owned Barings Private Equity Asia (BPEA) and Australian firm Regal Partners, which it was rejecting.

It received a A$33 per share bid from the consortium, valuing it at A$1.85 billion ($1.19 billion), compared with the earlier A$30 per share bid it had rejected.

($1 = 1.5586 Australian dollars)