Perpetual has labelled reports about a private equity firm making an approaching for the company as being nothing more than speculation.
The listed financial services company issued a statement to Australian Securities Exchange (ASX) late last week in response to heightened trading activity and a report in the Australian Financial Review.
"As previously announced to the ASX, Perpetual is conducting an operational review with the assistance of an international consulting firm," the statement said.
"This review is ongoing and no decisions have been made at this point in relation to the review.
Consequently, Perpetual is not currently in a position to make an announcement in relation to the review. As soon as there is a material development, an announcement will be made to the ASX."
In response to suggestions the firm is courting interest from a private equity firm, Perpetual said such comments were "mere speculation".
"Perpetual is not aware of any explanation other than the market reacting to the press speculation. in respect of private equity interest in Perpetual," it said.
A Perpetual spokesperson said there was no further detail outside of the ASX statement.
Last week, Perpetual's share price yo-yoed on the back of market speculation hitting a high of around 10 per cent on Thursday to reach $23.79 and dropping slightly to $23.53 at the close of the local markets on Friday.
The market talk comes seven months after Perpetual ended its takeover talks with global alternative asset management firm Kohlberg Kravis Roberts & Co.
Discussions ended after the two groups were unable to reach mutually acceptable terms, Perpetual said in December.
