Link Administration Holdings Ltd (ASX: LNK) shares are in the news today after the company gave an update.
You may have seen a couple of days ago that Link received a conditional, non-binding indicative offer from SS&C Technology Holdings to buy 100% of Link.
SS&C is a NASDAQ listed global provider of investment and financial software-enabled services and software for the financial services and healthcare industries. It has 150 offices in 35 countries.
The cash price being offered by SS&C is $5.65 per Link share.
At the time the Link board decided they’d have a look at the offer with their advisers.
Today, the company gave an update noting that it’s non-binding and indicative in nature and subject to lots of other conditions.
Link’s board thinks the SS&C proposal doesn’t represent compelling value for shareholders on a control basis, but thought it was appropriate to provide SS&C with due diligence information on a non-exclusive basis so that it can develop a proposal that may be capable of being recommended to shareholders.
Link said there’s still no guarantee there will be a proposal worth accepting.