Consortium eyes Link Group
Two private equity firms are spearheading a takeover of Link Group to acquire 100% of the ASX-listed administrator.
The consortium led by Pacific Equity Partners and Carlyle Group is offering $5.20 per share via a scheme of arrangement.
Perpetual, which is the largest shareholder with a 9.65% stake, has sent a letter to the consortium stating it will vote in favour of the acquisition at an offer price no less than $5.20 should it proceed.
Yarra Funds Management, NovaPort Capital and AustralianSuper also hold large shareholdings. Link’s shares jumped as high as 28% when the announcement broke on October 12, closing at $4.99 at the end of the day.
Link is the parent of several subsidiaries like Link Fund Solutions and Link Market Services.
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