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SS&C withdraws Link takeover bid
SS&C Technologies has withdrawn its bid for Link Administration Holdings for an undisclosed reason, less than a month after the initial proposal.
It was first announced on 8 December that Link had 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
In a statement to the Australian Securities Exchange this morning, Link said it been notified by SS&C that it would withdraw its proposal.
“On 3 January 2021, Link Group received a letter from SS&C stating that it has withdrawn its SS&C proposal.
“The Link Group board will continue to consider all alternatives to maximise value for shareholders. As previously announced, this includes a potential separation by way of demerger of Link Group’s interests in Torren Group Holdings (and its core asset PEXA). Link Group will also explore a trade sale of its interests in TGH from 18 January, 2021,” it said.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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