)
Just one week after receiving a $2.88 billion offer from The Carlyle Group for its entire business, Link Group (ASX: LNK) has today received another proposal that would see its banking and credit management business divested.
Pepper European Servicing today submitted a non-binding indicative proposal to acquire the whole of Link’s Banking and Credit Management business for up to $86.5 million.
The deal is conditional on due diligence, obtaining anti-trust and regulatory approvals and more, and Link’s board says it will consider the proposal, including obtaining advice from its financial, legal and tax advisers.
“Shareholders do not need to take any action in relation to the proposal,” Link said.
“It should be noted that there is no certainty that the discussions with the syndicate will result in any transaction.”
The deal comes one week after The Carlyle Group launched a $2.88 billion bid to buy the entirety of Link Group - representing a 24.2 per cent premium at the time the offer was submitted.
Link Group said it would consider the proposal, and suspend its on-market share buyback plan in light of the offer.
Get our daily business news
Sign up to our free email news updates.
)
)
)
)
)
