Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
I am not looking for advice as much as an explanation (if there is one) of why LNK would drop today. Was there a hidden message in the ASX query. It look to me that each shareholder will eventually get $5.50 with variations in August if the scheme is approved by shareholders. JP Morgan just bought $4M plus a couple of days ago at $4.97.
Hi Peter,
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. Shares closed Friday at $4.42.
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