(Add details, background)
Jan 4 (Reuters) – Link Administration Holdings Ltd in Australia announced on Monday that US-based SS&C Technology Holdings had accepted their bid to acquire Link Group.
SS&C Technology in December had bought the company’s offer for A $ 3.02 billion ($ 2.33 billion).
Sydney-based Link had previously stated that SS & C’s $ 5.65 per share offer was not strong enough and called on the US-based software company to expand its offer. better, despite being nearly 5% higher than competitive bidding from private equity firms Carlyle Group and Pacific Equity Partners.
The Board of the affiliate group will continue to consider all other options, including the sale of the interest in Torrens Group Holdings and its main asset PEXA from Jan. 18, the company said.
Link, which also provides services to finance managers and trading companies, said in October that it was looking at a potential spin-off of PEXA, a 44.2% online property trading company with Link, into an individual registered company.
$ 1 = 1.2985 Australian dollars Reported by Nikhil Subba in Bengaluru Edited by Chris Reese