SS&C launches takeover bid for Link
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.
Recommended for you
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
Global fund managers are shunning bonds, with the asset class seeing the largest drop in allocations in more than 20 years.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
