Jul 16, 2026 – 6.15pmEQT Partners, you may be leading a $440 billion global portfolio, but when it comes to locking down a take-private in Australia, you really need to get your act together.On Wednesday night, as Perpetual disclosed that it had received a revised $22.07-a-share bid from EQT, Greg Cooper and his fellow board directors would have been relieved to find that, for once, they were not the ones in the firing line of their shareholders.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Angira Bharadwaj is a co-editor of Street Talk. She covers IPOs, capital raises, mergers and acquisitions and other breaking news in Australia’s capital markets. Previously, she covered financial services, state, and federal politics. Send tips to @angirab.60 on encrypted messaging platform Signal.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?