Big publicly-listed administrator, Link Administration Holdings has received another takeover bid, this time from SS&C Technologies.
Link has announced to the Australian Securities Exchange (ASX) that it has received a conditional, non-binding indicative proposal from SS&C to acquire 100% of the share in Link by way of a Scheme of Arrangement.
The SS&C bid comes only week after Link gave a less than warm welcome to a private equity bid led by Carlyle and Pacific Equity Partners.
The Link Group board has said in its ASX announcement that it will consider the SS&C proposal, including obtaining advice from its financial and legal advisers, noting that shareholders did not need to take any action in relation to the SS&C proposal.
“It should be noted that there is no certainty that the discussions with SS&C will result in any transaction.
“The cash price offered to shareholders under the SS&C proposal is $5.65 per share and assumes no further dividends, distributions or reductions in capital,” the announcement said.