Link (ASX:LNK) share price on watch after receiving second takeover approach

The Link Administration Holdings Ltd (ASX:LNK) share price will be on watch today after receiving a second takeover offer…
The post Link (ASX:LNK) share price on watch after receiving second takeover approach appeared first on The Motley Fool Australia. –

asx investor daydreaming about US shares

The Link Administration Holdings Ltd (ASX: LNK) share price will be on watch on Tuesday following the release of an announcement after the market close yesterday.

What did Link announce?

On Monday afternoon Link announced that it has received a new unsolicited takeover approach, potentially sparking a bidding war.

According to the release, SS&C Technology has tabled an offer of $5.65 per share. This represents a 13.9% premium to Link’s last close price. This offer price assumes no further dividends, distributions, or reductions in capital.

SS&C Technology is a NASDAQ listed global provider of investment and financial software-enabled services and software for the financial services and healthcare industries.

This isn’t the first time SS&C Technology has taken a liking to an ASX listed share. Last year it outbid Bravura Solutions Ltd (ASX: BVS) in an ultimately unsuccessful attempt to acquire GBST Holdings.

What now?

The Link board advised that it will now consider the SS&C Technology proposal. This includes obtaining advice from its financial and legal advisers.

In the meantime, a consortium comprising Pacific Equity Partners and Carlyle Group continues to undertake due diligence in the Link data room.

The consortium currently has an offer of $5.40 per share on the table. Though, shareholders will no doubt be hoping that the offer from SS&C Technology, which is a 4.6% premium, will lead to an improved offer from the Pacific Equity Partners and Carlyle Group consortium.

For now, Link has told shareholders that they do not need to take any action in relation to the SS&C Technology proposal. It also warned that there is no certainty that the discussions with SS&C Technology will result in any transaction.

However, if there are material developments in the future, Link will inform shareholders as required under its continuous disclosure obligations.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

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

The post Link (ASX:LNK) share price on watch after receiving second takeover approach appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!