TORONTO — Link Administration Holdings Ltd. says it has agreed to a revised takeover proposal by Dye & Durham Ltd.
The Australian company says its board is recommending shareholders support the offer of A$4.81 per share plus up to 13 cents per share if its banking and credit management business is sold and proceeds are received within 12 months of the deal.
The deal is down from an offer of A$5.50 per share that Dye & Durham made in December, but up from its bid earlier this month of up to A$4.70 per share.
The Link Group board concluded that the revised offer is "fair and reasonable" and in the best interests of shareholders.
Toronto-based Dye & Durham has said the acquisition would expand its customer base in key U.K. and Australian markets and strengthen its business-to-business software and information service solutions.
The Australian Competition and Consumer Commission said last month it had significant preliminary competition concerns with the deal.
This report by The Canadian Press was first published July 21, 2022.
Companies in this story: (TSX:DND)
The Canadian Press
