LNK -10.43%: the corporate administration business copped a double whammy of bad news today which sent the stock to a 2-year low. The ACCC released preliminary concerns around the takeover by Canadian group Dye & Durham which aired concerns around competition given Link’s stake in digital property settlements and conveyancing business PEXA (PXA). Dye & Durham offers a software solution used by lawyers and conveyancing firms used for property settlements which the ACCC fears could vertically integrate with PEXA’s business to squeeze out any competition. The $5.50/sh cash off for Link is now 64% above today’s close, but is unlikely to proceed in its current state. Link was also taken to court in England with papers lodged regarding a class action from their involvement in the Woodbridge Income Fund collapse. While the issues seem to be stacking up for Link, there is value in the underlying business.
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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