Investors left in the dark over Guardian/Perpetual shuffle
The more Shoeshine pokes his nose into the Perpetual/Guardian Trust merger, the stranger the smell he sniffs out.
It’s not just the staggering $68.5 million purchase price for Guardian that is hard to digest. Nor is it simply the ambitious move by Milford’s active growth wholesale fund to buy into the deal.
It’s the combination of these and the increasingly murky break-up and sale of Perpetual by George Kerr’s Pyne Gould Corporation that’s creating the bad air.