Why is the Link (ASX:LNK) share price frozen on Wednesday?

Here’s why trading of Link’s shares have been paused today.
The post Why is the Link (ASX:LNK) share price frozen on Wednesday? appeared first on The Motley Fool Australia. –

The Link Administration Holdings Ltd (ASX: LNK) share price has been put in the freezer this morning as the company prepares to announce potentially exciting news.

The company has provided one clue to the market; the upcoming announcement relates to “a proposal for a potential control transaction”.

Right now, the Link share price is halted at its previous close of $4.79.

Let’s take a look at what the fund administration services provider has been up to lately.

Why’s the Link share price halted today?

The Link share price has been halted and might stay that way until tomorrow.

That is, unless the company releases its much-anticipated news today or extends its trading halt.

The market’s unaccustomed to seeing the Link share price halted. The last time it was frozen was in December 2020, before the company announced it had received its second takeover proposal in as many months.

Interestingly, Link is once more the subject of simultaneous takeover offers. Though, this time it has three to choose from.

Investment fund Carlyle Asia Partners put forward a $5.38 per share bid for the company in early November.

Carlyle was given access to Link’s virtual dataroom, Q&A process, and its executive leadership team later that month.

Days after the first takeover offer was posed, Link received an offer to sell its banking and credit management business to a syndicate led by Pepper European Servicing Limited.

The syndicate was granted exclusive due diligence for the banking and credit management business until 17 December.

The company has since received another offer for its banking and credit management business from LC Financial Holdings.

The latest offer would see Link receive approximately $102 million (at today’s AUD/Euro exchange rate) for the business. LC Financial Holdings has also been granted due diligence.

Since Carlyle posted its most recent takeover offer, the Link share price has gained 10%. Though, it is still 0.2% lower than it was at the start of 2021.

It likely goes without saying that plenty of eyes will be on the stock over the course of today in wait of more news.

The post Why is the Link (ASX:LNK) share price frozen on Wednesday? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Link Administration right now?

Before you consider Link Administration, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Link Administration wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

4 best-performing ASX tech shares in November

5 things to watch on the ASX 200 on Tuesday

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

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!