Can you explain the PPT/PDL pricing please?
What valuation do I apply to the PPT shares I received for my PDL shares acquired through the recent takeover?
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Answer
Hi Sandy,
Perpetual (PPT) completed the acquisition of Pendal (PDL) this week in a scrip & cash deal. Pendal shareholders received 1 PPT share for 7 PDL shares. along with $1.615/share in cash ($1.65/share less the 3.5c fully franked dividend received prior to completion of the deal).
A determination of CGT rollover has yet to be made, so it has not yet been confirmed that PDL shareholders can rollover their cost base into their Perpetual shares at this stage. Shareholders should seek personal taxation advice on this matter.
