The Toronto-based firm may not table a new offer for the Australian pension fund management platform after its revised bids were rejected, according to the people, who asked not to be identified as the matter remained confidential.
No final decision has been made and Dye & Durham could still proceed with its pursuit of Link, the people said. Representatives for Dye & Durham and Link declined to comment. Shares of Link slumped as much as 5.7 per cent in their biggest decline in nearly four weeks after the Bloomberg News report, giving it a market value of about US$1.3 billion.
Link has rejected Dye & Durham’s takeover offer for the second time in as many weeks after the Canadian company attempted to revise down the price of an earlier agreed deal dating back to December for A$5.50 per share.Article content
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