Link Group shares rose more than 6 per cent after the board said it was considering a second revised offer from Dye & Durham.
Share registry and superannuation administrator Link Group has left its scheme meeting on hold while the board considers DyeLink sent a letter to shareholders saying it would leave the meeting, originally scheduled for July 13, on hold to “allow additional time for discussions” after the Canadian legal technology company agreed to sweeten its offer to $4.70 a share.Shares in Link were up 6.53 per cent to $4.08 at 11am on Thursday in response to news of the higher offer., down from the $5.
The deal requires approval from the Australian Competition and Consumer Commission, which it has agreed to provide by September 22, a week before the September 30 drop-dead date. In a draft determination issued on June 16, theThe concerns related to Link’s 42.8 per cent holding in the PEXA electronic conveyancing business and potential vertical integration, which would hinder competition as the digitisation of conveyancing in the real estate market accelerates.
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