Australia's Link climbs on granting due diligence to syndicate buying unit

BCM Resources

17/11/2021 24:45

** Shares of shareholder registry firm Link Administration
Holdings Ltd  LNK.AX  add as much as 1.3% to A$4.860, their
highest since Nov. 5
    ** Co gives access to due diligence on its Banking and
Credit Management business (BCM) to a syndicate led by financial
service provider Pepper European Servicing Ltd  urn:newsml:reuters.com:*:nASX4hGT0C
    ** Due diligence given on exclusive basis until Dec. 17
    ** Syndicate had proposed to acquire BCM for up to A$86.5
mln ($63.07 mln)  urn:newsml:reuters.com:*:nASX1XgnFq
    ** News comes after co said on Monday it would give Carlyle
Group  CG.O  due diligence information on a non-exclusive basis
so it can develop a revised proposal  urn:newsml:reuters.com:*:nL1N2S50LD
    ** Stock has fallen 13.5% this year, as of last close

($1 = 1.3716 Australian dollars)

 (Reporting by Yamini C S)
 ((Yamini.CS@thomsonreuters.com;))