Link receives acquisition offer
Link Administration Holdings has received a conditional, non-binding indicative proposal from a syndicate led by Pepper European Servicing Limited to acquire the whole of Link Group’s banking and credit management business.
In an announcement to the Australian Securities Exchange (ASX), the proposed acquisition would be for $86.5 million and was subject to the following conditions:
- Due diligence;
- Obtaining anti-trust approvals;
- Obtaining regulatory change of change approvals;
- Negotiation and execution of transaction documentation; and
- Securing debt financing.
The board would consider the proposal, which included obtaining advice from its financial, legal and tax advisers.
Shareholders were not yet required to take any action and it was noted there was no certainty any transaction would happen.
Recommended for you
T. Rowe Price believes Australian growth is successfully managing to shrug off consumer weakness, but the firm’s multi-asset team is not yet positive enough to increase its underweight position.
Iress has issued an update denying the validity of “certain statements” made by an alleged threat actor, following a cyber incident last weekend.
The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.
Betashares has expanded its fixed income solutions with the launch of a new ETF offering exposure to subordinated bonds issued by the big four Australian banks.
