LNK -15.09%: the company administration group was smacked today only a day after suitor Dye & Durham lodged takeover documents. Dye & Durham was expected to takeover Link at $5.50/sh in a deal announced late last year however concerns are now being raised around the funding needed to secure the takeover. An independent expert cleared the deal and Link’s board moved to vote in favour of the takeover ahead of a shareholder vote in July. Dye & Durham had organised a $3.5b loan from a number of creditors, however, the market has fears that the loan, which is more than 3x the market cap of the Canadian listed suitor, is excessive. The ACCC has also delayed its ruling on the takeover with provisional findings now expected in late May. LNK shares are trading at a ~25% discount to terms.
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Buy Hold Sell: The best and worst performers of FY25
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Monday 30th June – Dow up +432pts, SPI up +5pts
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Buy Hold Sell: The best and worst performers of FY25
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Monday 30th June – Dow up +432pts, SPI up +5pts
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