Link Group says it will not recommend Dye & Durham’s latest $ 4.30 per share offer for the company.
On June 27, Dye & Durham reduced its bid for Link from $ 5.50 to $ 4.30 and said it was considering committing to the ACCC to get its approval as required by the deed. execution of the scheme.
“Link Group’s board does not believe it will be able to recommend a $ 4.30 per share transaction for control of Link Group,” it said in a statement.
Link said he continued to talk to Dye & Durham about whether an agreed position could be reached.
If Dye & Durham proposes a commitment to the ACCC, which Link believes will meet the ACCC’s concerns, the Link Board said it would be willing to consider an amendment to the consideration of the agreed scheme.
In light of events and to give additional time to the parties for discussions, Link Group adjourned the meeting of the plan and the special general meeting of July 13 to a date to be determined.