Equity Trustees extends takeover bid for The Trust Company

Equity Trustees tells shareholders its offer will be better than rival Perpetual's.

Equity Trustees Ltd has again extended its takeover bid for The Trust Company Ltd as it waits for an August 1 decision from the competition regulator on a rival bid.

In a statement to the Australian Securities Exchange, Equity Trustees said its offer would be better for shareholders than Perpetual Ltd's rival bid as it has less exposure to financial markets.

Equity Trustees has extended the closing date of its offer to September 30.