Australia's Link Group Rejects Nearly $2B PE Takeover Bid

Law360 (October 23, 2020, 12:55 PM EDT) -- Australian share-registry operator Link Group on Friday spurned a AU$2.76 billion ($1.96 billion) takeover bid lobbed by private equity firms Carlyle Group and Pacific Equity Partners as too low, but left the door open for continued negotiation.

The private equity consortium made its AU$5.20-per-share offer to buy Link Administration Holdings Pty. Ltd., or Link Group, on Oct. 10, according to a statement from the time. Link Group has been evaluating the proposal since, and on Friday the company said it has determined the takeover offer is too low. Link Group also said the deal the PE firms put forth is too...

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