Santos, Platinum, Pirelli, and the takeover offer for Link
Fund Manager Chris Pedersen discusses Santos, Platinum Asset Management, Pirelli and Link Administration Holdings.
Read MoreTag: LNK
Link’s UK misadventure
Link Administration Holdings (ASX:LNK) will report a massive loss for the year to June 30 thanks to a dud deal in the UK.
Read MoreMore Messing About than Merging and Acquiring
Monday saw the death knell finally rung for two of the… shall we say, less professional business entanglements in recent memory – although we all know nothing is forever in M&A.
Read MoreBall Now in D&D’s Court for Link Shemozzle
Link Administration has given itself and Dye and Durham an extra eight days to try and find a solution to the half a billion dollar obstacle to their $2.5 billion marriage.
Read MoreUK Brouhaha May Kill Off Link Deal
Shares in Link Administration lost 20% yesterday, all but killing off the convoluted, long running $2.5 billion takeover offer from Canadian group, Dye and Durham (D&D).
Read MoreACCC Finally Clears Link Bid with One Proviso
The ACCC will not oppose the takeover of Link Administration by Dye & Durham, after accepting an undertaking from the Canadian company to sell its existing Australian business.
Read MoreFinal Roll of the Dice for D&D with Link
Canadian group Dye & Durham is trying to avoid an outright rejection by competition regulator, the ACCC, of its proposed $2.47 billion acquisition of Link Administration Holdings.
Read MoreLink Saga Nearing an End – Or Is it?
The Days of Our Lives deal of Australian finance – Link Group’s multi-year attempts to sell itself – looks set to enter its final episode. But then again, like any good soap opera, who knows?
Read MoreD&D Link Bid Looks as Dead as a Doornail
Another takeover for Link seems headed for collapse as the ACCC confirmed market reports that it had major qualms about the $2.9 billion offer from Canada’s Dye and Durham.
Read MoreMarket Murmurs: TNE, BAP, NST, LNK
On what was a pretty slow Tuesday on the ASX, here are four bits of news from TechnologyOne (ASX: TNE), Bapcor (ASX: BAP), Northern Star (ASX: NST), and Link Group (ASX: LNK).
Read MoreLNK – Morgans rates the stock as Add
The target price remains at the Carlyle bid price and the Add rating is maintained.
Read MoreLink Warms to Carlyle Overtures
Will we be seeing a real bid for Link Administration now that it will let private equity firm Carlyle Group take a look at its books?
Read MoreLNK – Citi rates the stock as Neutral
Citi lifts its target to $5.00 from $4.75 and retains a Neutral rating.
Read MoreLNK – Credit Suisse rates the stock as Outperform
Credit Suisse believes value has emerged and raises the target to $5.55 from $5.40, while upgrading to Outperform from Neutral.
Read MoreLink Lightens PEXA Holding Ahead of IPO
Link Administration Holdings has agreed to give up more of its partly-owned PEXA property conveyancing business ahead of its ASX listing, which happens this Thursday.
Read MoreMarket Pooh-Poohs Link PEXA Listing
Link Administration shareholders do not like the idea of a float for online conveyancing group PEXA that only nets around $50 million in cash for its dominant stake in the company.
Read MoreDiscourse from the Bourse
A fair bit going on at the moment, here are a few developing stories from over the weekend we thought you might like updates on, involving PEXA / LNK, ING, SHV, TAH and FMG.
Read MoreDomain, KKR Make Snap Bid for PEXA
US private equity giant KKR and Nine Entertainment’s real estate listings company Domain Holdings have made a surprise $3.1 billion bid for the online property conveyancer PEXA.
Read MoreLNK – Credit Suisse rates the stock as Neutral
Credit Suisse reinstates coverage with a Neutral rating and $5.40 target.
Read MoreLink Jilted at the Altar Yet Again
Yet another takeover offer for Link Group has fallen over as the group of investors led by the Pacific Equity Partners and the US Carlyle group dropped their bid and departed the arena.
Read MoreLink Pulls Pin on Pepper European Play
Almost a year to the day after first announcing it, Link Administration has called off the 165-million-euro ($A262 million) deal to acquire Pepper’s European financial services business.
Read MoreRobust Guidance Keeps Link Squarely in the Corporate Crosshairs
Financial services admin provider Link, still in the sights of at least one bidder, has told the market it expects to perform slightly better than expected ahead of reporting its December half-year results in February.
Read MoreTakeover hopes dashed for Link shareholders
A rude start to 2021 for shareholders in Link Administration Holdings as the company announced that a $3 billion indicative offer from US group SS&C Technology Holdings is no longer on the table.
Read MoreThird Time Still Unlucky For Link Group Bidders
Link Group has rejected a third takeover offer for its business in less than two months, telling the market the latest offer from US financial services group, SS&C Technologies Holdings did not represent compelling value for shareholders.
Read MoreLNK – Morgans rates the stock as Hold
Guidance for first-half revenue and operating profit (NPATA) were broadly in-line with Morgans’ estimates.
Read MoreThird Suitor Emerges For Link Group
Are we reaching endgame for the off/on battle for control of Link Group with a third suitor emerging? Investors bid the shares up more than 14% to $5.66 yesterday after American financial services group, SS&C Holding revealed an indicative $3 billion indicative bid for the superannuation fund administrator Link. The shares closed up nearly 14% at $5.64.
Read MorePrivate Equity Returns With New Bid For Link Administration
Three days after rejecting their offer, Link says its private equity stalkers have lifted their bid in a bid to win the company’s OK, adding plans to spin off the PEXA real estate business if the deal happens.
Read MoreNews Shorts: BlueScope Upgrades Earnings, Link Rejects Takeover Bid
Steelmaker BlueScope Steel set the market on fire on Friday with a sharp upgrade to first-half earnings. Meanwhile, financial services records group, Link has rejected the $2.8 billion takeover private equity bid, claiming it materially undervalued the company.
Read MorePrivate Equity Renews Battle For Link Administration
A $2.8 billion bid from a consortium of private equity firms Link Administration looks like renewed interest in the company from other possible bidders. The conditional, non-binding bid has come from private equity firms Pacific Equity Partners and The Carlyle Group.
Read MoreHeadwinds Build For Insurers And Wealth Managers
As FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
Read MoreLNK – Morgans rates the stock as Add
The company has revised FY19 operating earnings guidance (EBITDA) to $350-360m and operating net profit to $195-205m. This is below Morgans’ estimates. Issues reflect the impact of Brexit on the asset services business and headwinds in funds administration from client migration, as well as elevated resourcing costs.
Read MoreMore Upside To Come For Link
Costs and depreciation marred the first half result for Link Administration, although brokers are confident that synergies for Link Asset Services should continue working in the company’s favour.
Read MoreLNK – UBS rates the stock as Buy
The company has sold its corporate & private clients business to Apex Group for GBP240m. UBS does not believe the transaction will have a material bearing on the outlook.
Read MoreDNR Capital Talk Link Administration (ASX:LNK)
Link Group (ASX: LNK) is a leading provider of outsourced administration services platforms to the Australian superannuation industry and shareholder services to listed companies around the globe. Earlier this year they completed their acquisition of PEXA, Australia’s first (and, at present, only) online property exchange. Scott Kelly, Manager of DNR Capital’s Australian Equities Income Portfolio, explains why they see LNK as a core holding.
Read MoreLink Completes Capital Raising
Link Administration shares jumped more than 2% to $8 after the financial services firm completed its capital raising to help pay for its $1.5 billion move into the UK.
Read MoreLink To Resume After Raising
Shares in Link Group are due to resume trading later today with the bulk off the $883 million fund raising to fund its big UK push tucked away.
Read MoreLink Confirms Detail On UK Deal
As reported yesterday, Link Group has will as shareholders to fund much of its near $1.5 billion move into the UK via the acquisition of the asset management arm of struggling British outsourcing group, Capita.
Read MoreLink To Buy UK Asset Management Arm
Link Group (LNK) will pay nearly $A1.5 billion to move into the UK asset management business and is expected to announce a massive cash raising this morning to pay for the transformative deal.
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