Link Administration: Receives BCM takeover offer

Link Administration Receives BCM takeover offer

• Link Administration (LNK) has received another takeover bid, this time for its Banking and Credit Management (BCM) business
• A syndicate led by Pepper European Servicing (PES) has offered to buy Link’s BCM for €55 million (A$86.5 million)
• It’s also offered to acquire LNK’s non-Irish businesses for up to €40 million (A$62.9 million) and its Irish company for €15 million (A$23.6 million)
• Link has a long history of attempted buyouts, having previously tried to buy PES, while more recently it began considering a second takeover bid from Carlyle Group
• LNK shares are trading up 3.47 per cent at $4.77 each