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
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.