Business
Link’s private equity saviour – The Australian Financial Review
The takeover bid for Link Administration from two private equity giants comes with an optional spicy side deal for investors.
The fact that Perpetual, with 9.65 per cent of Link, says it is happy to take $5.20 suggests Carlyle and PEP are not too far off the mark in their valuation of a company that was once a growth stock and is now a disappointing sharemarket laggard.
The spicy side option relates to Links 44 per cent ownership of electronic conveyancing platform PEXA. This is regarded by some as Links best asset.
But shareholders have heard this story for years and have never seen much in the way of value added to…
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