SS&C Technologies has withdrawn its bid for Link Administration Holdings for an undisclosed reason, less than a month after the initial proposal.
It was first announced on 8 December that Link had received a conditional, non-binding indicative proposal from SS&C to acquire 100% of the share in Link by way of a Scheme of Arrangement
In a statement to the Australian Securities Exchange this morning, Link said it been notified by SS&C that it would withdraw its proposal.
“On 3 January 2021, Link Group received a letter from SS&C stating that it has withdrawn its SS&C proposal.
“The Link Group board will continue to consider all alternatives to maximise value for shareholders. As previously announced, this includes a potential separation by way of demerger of Link Group’s interests in Torren Group Holdings (and its core asset PEXA). Link Group will also explore a trade sale of its interests in TGH from 18 January, 2021,” it said.