I look forward to other responses ....but to keep it simple , if...

I look forward to other responses ....but to keep it simple , if and when KKR were to up the Offer , the more the ATO would tax the deal ,,,,and the return to shareholders in the form of an UNFRANKED DIVIDEND remains LESS TAX EFFECTIVE , albeit if a slightly gross return .
Walk away from this schmoozle ! Either look for a TAX EFFECTIVE relationship as originally offered by WASHINGTON SOUL PATT .....or take a hard nosed approach and cut all the excessive "fat or marginal "international business grandiose schemes previously hoodwinked into by the MD and Board , and get back to cost control/cost effective core businesses that made Perpetual a good business previously .
Superannuation continues to grow...Australians continue to age ...and Wealth Accumulation and complex family structures/ illness/ preservation of capital , plus Philantrophy , continue to play a growing role in Australia and internationally .
Perhaps "back to core business and stick to my knitting ", might be something the new MD and Board could bring to the table ..for a change !
Starting with a wave goodbye , to KKR !
Just again ..IMHO , ...and knowing full well , Directors don't make decisions these days , they just pay Lawyers and Accountants huge bucks to take the Decision Making Responsibility OFF THEIR SHOULDERS !