138-year-old Australian firm Perpetual faces potential breakup as KKR proposes splitting due to rapid expansion through acquisitions.

138-year-old Australian financial services firm, Perpetual, founded by Edmund Barton (Australia's first PM), risks a breakup as US private equity giant KKR proposes splitting the company. Shares have fallen 40% despite funds under management surging due to acquisitions. This highlights potential downsides of rapid expansion through acquisitions and challenges the idea that "bigger is always better".