World News – AU – Why Link (ASX: LNK) ‘s stock price is down 11% today

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The Motley Fool Australia »Stock Falls» Why Link (ASX: LNK) ‘s stock price is down 11% today

James Mickleboro | 4th. January 2021, 10:15 a.m. | More on: LNK

Link Administration Holdings Ltd (ASX: LNK) stock price is under pressure on Monday after the takeover approach was updated.

This morning Link provided the market with an update on the conditional, non-binding indicative proposal from SS&C Technology Holdings, which it announced on Jan.. December received.

The NASDAQ-listed global provider of investment and financial software-enabled services and software had made an offer of USD 5. 65 per share to purchase 100% of Link.

This was subject to SS&C technology, which received confirmatory due diligence, acceptable debt financing, negotiation and execution of transaction documentation, and required corporate and regulatory approvals.

While the Link Board did not consider the proposal to be of compelling value to shareholders, it deemed it appropriate to provide due diligence information to SS&C Technology on a non-exclusive basis. In this way, a proposal could be drawn up that can possibly be recommended to the shareholders.

However, this morning the company announced that it had received a letter from SS&C Technology stating that it had withdrawn its proposal. No reason was given for the withdrawal.

Management advised that shareholders should not take any action in relation to this or any proposal. In addition, the company intends to inform shareholders of significant future developments in accordance with the requirements of its ongoing disclosure obligations.

The Link Board has announced that it will continue to consider all alternatives to maximize value for shareholders.

As previously announced, this includes a possible split by splitting his interest in the PEXA business. Link will also start a commercial sale of its shares on Jan.. January 2021.

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James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia’s parent company, Motley Fool Holdings Inc. . owns shares in Link Administration Holdings Ltd. . The Motley Fool Australia recommended Link Administration Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). . Authorized by Bruce Jackson.

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Link Administration Hldgs, SS&C Technologies, ASX, ASX: LNK, Finance, Stocks, Stocks, NASDAQ

World News – AU – Why Link’s (ASX: LNK) share price is today down by 11%
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Link Group shares after fined 3 billion. USD SS& C technology offer withdrawn
SS& C withdraws proposal for Link Group (ASX): LNK)
Why the share price of Link (ASX: LNK) drops 11% today
SS& C withdraws link takeover offer
SS& C withdraws link offer

Ref: https://www.fool.com.au

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