KKR Makes New Bid for Fund Manager Perpetual, AFR Reports

Buyout firm KKR & Co. has sweetened its offer for Australian fund manager Perpetual Ltd.’s wealth management business two months after an initial deal was scuppered by an unexpected tax ruling, the Australian Financial Review reported.

KKR has made an all-cash proposal of more than A$8 ($5.08) per share, AFR reported, citing sources close to the suitor that it didn’t identify. Perpetual’s board is meeting Sunday to consider the offer, the paper said.