Pendal shares will be suspended from the ASX after the NSW Supreme Court approved the fund managers acquisition by Perpetual.

The court approved the takeover on Wednesday, 11 January, with the ASX announcement regarding suspension of Pendal shares made by the company on Thursday morning.

The transfer of holdings will be completed by 23 January and all owners of Pendal shares as of 7pm on 16 January will receive $1.65 cash per Pendal share (minus 3.5 cents dividend per share paid to shareholders on 15 December 2022) and one Perpetual share for every seven Pendal shares.

Pendal notes the timetable is indicative only and subject to change.