(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 |
Open | High | Low | Value | Volume |
$13.96 | $13.97 | $13.81 | $2.425M | 174.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 965 | $13.81 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$13.89 | 800 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 290 | 13.800 |
1 | 500 | 13.670 |
1 | 300 | 13.500 |
1 | 175 | 13.450 |
1 | 720 | 13.430 |
Price($) | Vol. | No. |
---|---|---|
13.890 | 300 | 1 |
14.000 | 30 | 1 |
14.200 | 6864 | 2 |
14.250 | 90 | 1 |
14.330 | 320 | 1 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
PXA (ASX) Chart |
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