Link Administration Holdings Ltd. says Dye & Durham Corp. has proposed to cut its takeover offer for the company.
The Australian company says Dye & Durham wants to reduce its offer to A$4.30 per share compared with an earlier offer of A$5.50 per share. Link Group says its board will consider the request and consult with its financial, legal and tax advisers.The Toronto-based company said at the time the acquisition would expand its customer base in key U.K. and Australian markets and strengthen its business-to-business software and information service solutions.
The Australian Competition and Consumer Commission said earlier this month that it had significant preliminary competition concerns with the deal. Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening.
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