Original glazed for JPMorgan | Bankers flock to Mecca | Perpetual board meets

Good evening,

It’s crunch time for Perpetual’s Tony D’Aloisio-chaired board.

Sources said D’Aloisio summoned Perpetual’s directors for a board meeting on Sunday morning, as he races against the clock to come up with a verdict on KKR’s recut bid for its corporate trustee and wealth units before half-year results on February 27.

The private capital giant has restructured its $2.2 billion bid to alleviate the hefty tax bill estimate for Perpetual shareholders, as revealed by this column last week.

The outcome of the meeting remains unclear. However, the smart money is betting that Perpetual’s board will give it a shaky thumbs up.

Read the full story: Perpetual board meets to deliberate KKR’s new bid

Read the full story tomorrow and more on the Street Talk page.

JPMorgan’s retail and consumer team are bringing melt-in-your-mouth deliciousness to Australia’s deals scene. The franchise delivers around $200 million in revenue, and 11 per cent EBITDA margins across.

The sharemarket closed at a five-week low, as a sell-off in Australian banks over the past five days piled pressure on the bourse.

Click here for the latest equity market wrap.