Sweden's EQT AB has raised its takeover offer for Australian financial services group Perpetual to A$2.55 billion ($1.78 billion). The sweetened bid underscores EQT's appetite for financial services assets and could lift Perpetual on a premium, pending terms, financing and regulatory approvals. The outcome hinges on Perpetual shareholders' acceptance and competition/antitrust review.
EQT missed Wall Street estimates for the second quarter as weaker natural gas prices pressured earnings. The results underline the company's sensitivity to commodity prices and may weigh on near-term sentiment until gas prices stabilize. The miss could also shape views on cash flow and capex decisions if price weakness persists.
EQT raised over $10 billion for its ninth Asia private equity fund. EQT plans roughly $930 million investment in South Korea’s Douzone Bizon. Firm emphasizes Asia as a major growth engine with 350 staff locally. Focus on domestic-demand sectors and early-stage China, not buyouts.
EQT Corp exceeded profit estimates, driven by rising natural gas prices. Increased sales volumes contributed to the strong quarterly performance of EQT.