Feb 17 (Reuters) - Australia's Perpetual Ltd ( PPTTF ) on

Monday confirmed it received an indicative buyout offer from KKR

& Co ( KKR ) but said the latest revised proposal and its value

were not accurately described in recent media reports.

A A$2.2 billion ($1.40 billion) deal with the buyout giant

has been on the back burner over the past two months after

Perpetual received a much higher-than-expected tax bill, along

with higher liabilities and lower shareholder returns.

Media reports over the weekend stated KKR had returned with

an enhanced all-cash proposal exceeding A$8 per share for the

Australian asset manager's corporate and wealth units.

However, Perpetual said in a statement that the "latest

revised proposal and its quantum are not accurately described in

the media."

Perpetual said that the revised proposal includes key

commercial terms that need to be finalised and added "the net

proceeds shareholders would receive under the Revised Proposal

are uncertain at this stage".

The sale of the businesses, along with the century-old

Perpetual brand, would reshape the company into a standalone

fund management firm as it navigates a strategic turnaround.

($1 = 1.5751 Australian dollars)