PXA 0.72% $13.88 pexa group limited

(Adds background on Carlyle and Link, details of proposal) Nov...

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    (Adds background on Carlyle and Link, details of proposal)

    Nov 5 (Reuters) - Australia's Link Administration (LNK) said on Friday it would consider private equity firm Carlyle Group's CG.O A$2.81 billion ($2.08 billion) bid for the shareholder registry firm.

    This is Carlyle's second attempt at buying the Sydney-based firm after approaching late last year as part of a consortium with Pacific Equity Partners. After lobbing improved bids, the private equity duo withdrew https://www.reuters.com/article/link-admnstrn-ma-carlyle-group-idUSL4N2MK59Z earlier this year.

    At the heart of a flurry of interest for Link is its stake in online conveyancing firm PEXA Group (PXA) , which listed https://www.reuters.com/article/pexa-group-ipo-idUSL3N2OD1JM on the Australian stock market in July.

    Link said Carlyle's latest bid includes a A$3 per share bid in cash and a distribution of its stake in PEXA worth A$2.38 a share.

    In total, Carlyle values Link at A$5.38 per share, a 24.2% premium to its closing price on Thursday. The private equity did not immediately respond to a request for comment.

    Link has appointed Macquarie Capital and UBS as advisers and put off its share buyback after having purchased A$101.7 million out of the target A$150 million.

    ($1 = 1.3514 Australian dollars)

 
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Last
$13.88
Change
-0.100(0.72%)
Mkt cap ! $2.462B
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$13.96 $13.97 $13.81 $2.425M 174.6K

Buyers (Bids)

No. Vol. Price($)
1 965 $13.81
 

Sellers (Offers)

Price($) Vol. No.
$13.89 800 2
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