Business
KKR, Domain lob surprise $3b bid for PEXA – The Sydney Morning Herald
Private equity heavyweight KKR and Domain Holdings want the owners of the online property conveyancer to either accept or reject their offer by this Sunday.
Private equity heavyweight KKR and Domain Holdings have teamed up to lob a surprise $3 billion bid for the online property conveyancer PEXA, asking its owners to either accept or reject the bid by this Sunday.
Link Administration, which is the largest shareholder in PEXA with a 44.2 per cent stake, confirmed the offer Thursday evening giving PEXA an enterprise value (which includes debt) of $3 billion. The KKR/Domain bid also stipulates that Link pull the pin on its plans to list PEXA on the ASX.
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