Australia's Link Administration eyes best day ever on takeover offer by Mitsubishi

Link Administration Holdings

17/12/2023 23:53

** Shares of Link Administration Holdings  LNK.AX  rise as
much as 28.8% to A$2.190, set to see a record intraday pct gain
- if gains hold 
    ** Stock hit its highest since April 26
    ** The pension administration firm says Mitsubishi UFJ
Financial Group  8306.T  has agreed to acquire the co for A$1.2
billion ($802.7 million) as Japan's largest banking group boosts
its fund administrator business globally 
    ** Under the deal, Link shareholders will receive A$2.10 in
cash, in addition to a dividend of A$0.16 per share
    ** Stock has fallen 13.9% this year as of last close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))