The stock opened about 1.7% lower in Sydney.
Perpetual said it will pursue the sale of its wealth management business after rejecting the latest offer from KKR & Co., as the Australian financial services firm attempts to lure new offers.
The company has ended talks with KKR, according to a Perpetual statement Monday. This is the right course of action to deliver long-term value to shareholders, CEO Bernard Reilly said in the statement.
