Link Administration

Link’s Scheme Meeting on 13 July, High Spread Reflects Deal Risk

Event-Driven
245 Views, 10 May 2022 20:34
EXECUTIVE SUMMARY
  • The Link Administration Holdings (LNK AU) scheme meeting is scheduled for 13 July. The independent expert has concluded that the Dye & Durham (DND) offer is fair and reasonable.
  • The offer faces significant risks which are ACCC review (findings delayed from the 26 May release date), a contract renewal potentially triggering the MAC clause and an ongoing FCA investigation.
  • At the last close, the gross spread to the base offer is 10.7%. We would be buyers up to A$5.20 per share (implies 75% deal probability).
detail (6-minute read)
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Arun George
IPOs and Catalysts/Events
Global Equity Research Ltd
Information TechnologyEquitiesEquity Capital MarketsEvent-Driven

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start... 

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