SYDNEY — Link Administration Holdings Ltd. said it has decided to engage with Dye & Durham Ltd. on an offer worth 1.27 billion Australian dollars (US$808 million) for its Corporate Markets business and entire Banking and Credit Management unit.
Link said its discussions with Dye & Durham would be on a non-exclusive basis, and it would in parallel continue to work with regulators including the Australian Tax Office to advance a plan for an in-specie distribution of at least 80% of its equity holding in Pexa Group Ltd. to shareholders.
The indicative proposal from Dye & Durham, received by Link on Oct. 5, was the third by the Canada-listed company in recent weeks. Link directors rejected the previous two approaches.