Link Group has started due diligence for the non-binding proposal from Carlyle Asia Partners V to acquire Link.
In an announcement to the Australian Securities Exchange (ASX), Link said its board had considered the proposal that was announced on 5 November, 2021, and that the proposal was subject to conditions including due diligence.
“The board considers that it is appropriate to provide Carlyle with due diligence information on a non-exclusive basis so that it can develop a revised proposal that is not subject to further due diligence and may be capable of being recommended to shareholders,” it said.
“The due diligence information will be provided subject to extension of the confidentiality agreement between Link Group and Carlyle, including the standstill.”
On 12 November, 2021, Link received another acquisition offer by Pepper European Servicing Limited to acquire its banking and credit management business.