Mitsubishi UFJ unit to buy Australia's Link Administration for $802.7 million (updated)

Link Administration Holdings

17/12/2023 21:40

(Adds more details on deal from paragraph 2)
       Dec 18 (Reuters) - Australia's Link Administration
 LNK.AX  said on Monday that a unit of Mitsubishi UFJ Financial
Group  8306.T  has agreed to buy the company for an equity value
of A$1.2 billion ($802.7 million).  
    Under the deal, shareholders of Link Administration will
receive A$2.10 in cash, in addition to a dividend of A$0.16 per
share, expected to be paid by the company, resulting in a total
of A$2.26 per share, implying an enterprise value of A$2.1
billion ($1.41 billion)
    The Japanese banking major has a 6.4% stake in the share
registry firm, as of Nov. 27. 
    The board said that it recommends that Link Group
shareholders vote in favour of the scheme in the absence of a
superior proposal. 
    
($1 = 1.4950 Australian dollars)

 (Reporting by Archishma Iyer in Bengaluru; Editing by Sandra
Maler and Lisa Shumaker)
 ((Archishma.Iyer@thomsonreuters.com;))