Swedish private equity firm EQT has raised its takeover offer for Australia’s Perpetual for a third time, proposing A$22.50 per share and valuing the group at A$2.55 billion ($1.78 billion). The price implies a nearly 19% premium to Perpetual’s last closing price. The proposal is subject to conditions, including Perpetual completing the sale of its wealth management unit to Bain Capital, according to Reuters.

Asian equities rose as mediation efforts in the Middle East pushed oil prices off recent highs, with Iran saying it had received a 10-day ceasefire proposal. Brent crude futures slipped 0.38% to $88.88 a barrel after earlier touching $91.42, while Yemen’s Iran-aligned Houthis threatened a naval blockade on Saudi Arabia. Japan’s Nikkei rose more than 1% and South Korea’s KOSPI gained nearly 3% as investors looked ahead to earnings from Alphabet and Intel to gauge how the conflict may affect AI-related hardware profits.

Yemen’s Houthi movement has threatened a naval blockade of Saudi Arabia, adding to risks for Middle East shipping and energy supplies. At the same time, the United States and Iran signaled talks on a 10-day ceasefire despite ongoing military exchanges. Brent fell 0.4% to $88.87 a barrel while WTI held at $82.47, as near-term geopolitical risk premium eased alongside expectations for declines in U.S. crude and gasoline inventories.