Business
Project Newton tilt for Link hinges on PEXA valuation – The Australian Financial Review
The PEXA electronic conveyancing business has CBA as a 16 per cent shareholder, with the bank doing 80 per cent of its home loan settlements through the service…
Goldman Sachs analyst Ashley Dalziell said in a research note that ”in the current form it is difficult for the market to assess the offer if there is indeed an option which would allow Link shareholders to retain their position in PEXA”.
Mr Dalziell said this would require a revised cash proposal for the Link business excluding the PEXA stake and ”greater clarity” around how Link investors would maintain a stake in PEXA.
Goldman Sachs has a ”neutral” rating on Link with a 12-month targe…
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