A 17 per cent share price jump before revealing a private equity bid? Perpetual, you’re taking the piss.We’re all for boards dealing with takeover proposals confidentially, particularly when they’re from hesitant private equity bidders, but there is a problem when the response to a big share price move on stronger-than-usual volume is to reveal a bid.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles