IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

Pendal Gets a Binding Offer from Perpetual

Weekly Deals Digest (28 Aug) - Leapmotor, DTAC/True, Ramsay, Pendal, Link Admin, Infomedia, ResApp

Merger Arb Mondays (29 Aug) - Ramsay, DTAC/True, Pendal, Link Admin, Ramsay, Infomedia, ResApp, MACA

Pendal’s Indicative Bid from Perpetual Is Underwhelming

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/perpetual-ltd" target="_blank" data-smartkarma-citation="entities:599:1" rel="noopener">Perpetual Ltd (PPT AU)</a> confirmed today that it is currently in “<em>high-level, preliminary, confidential discussions with Pendal in relation to a potential acquisition.</em>”</li>
<li>Since rejecting Perpetual’s offer, <a href="https://www.smartkarma.com/entities/pendal-group-ltd" target="_blank" data-smartkarma-citation="entities:15795:1" rel="noopener">Pendal Group (PDL AU)</a>’s shares have underperformed most of its peers largely due to poor FUM performance. </li>
<li>Despite today’s pop, Pendal trades at a discount to historical and peer multiples. Perpetual’s renewed interest points to its underlying value. </li>
</ul>



Perpetual Ltd (PPT AU) confirmed today that it is currently in “high-level, preliminary, confidential discussions with Pendal in relation to a potential acquisition.”
Since rejecting Perpetual’s offer, Pendal Group (PDL AU)’s shares have underperformed most of its peers largely due to poor FUM performance. 
Despite today’s pop, Pendal trades at a discount to historical and peer multiples. Perpetual’s renewed interest points to its underlying value. 


Pendal Group

Perpetual Mulls Another Bid for Pendal