Link Administration Holdings (ASX:LNK) in proposal to acquire Link group

Company News

by Rachael Jones

Link Administration Holdings (ASX:LNK) has received a conditional, nonbinding indicative proposal from a consortium with Pacific Equity Partners, Carlyle Group and their affiliates to acquire 100 per cent of the shares in Link Group.

The indicative cash price offered to shareholders under the Proposal is $5.20 per share.

The offer price assumes no further dividends, distributions or reductions in capital would be paid from the date of the Proposal.

Perpetual, which currently holds 9.65 per cent of Link Group, has sent a letter to the Consortium, stating that it intends to vote any shares held at the time of any meeting in favour of the Consortium acquiring 100 per cent of Link Group at a share price of no less than $5.20, should one proceed.

Shares in Link Administration Holdings (ASX:LNK) are trading 24.4 per cent higher at $4.96.