- Revised proposal includes reduced price of A$4.30 per share
- Dye & Durham considering providing an undertaking to
ACCC
TORONTO, June 27,
2022 /CNW/ - Dye & Durham Limited (TSX: DND)
("Dye & Durham" or the "Company"), a leading provider of
cloud-based efficient workflow software for legal and business
professionals, announced today it has made a revised proposal to
the board of directors at Link Administration Holdings Limited
(ASX: LNK) ("Link Group") with respect to Dye & Durham's offer
to acquire Link Group.
Dye & Durham's letter to Link Group's board includes a
purchase price of A$4.30 per Link
Group share, reduced down from A$5.50
per share offered by Dye & Durham in December 2021. It also states that the company is
considering providing an undertaking to the Australian Competition
and Consumer Commission ("ACCC") in order to obtain its approval,
as required in the proposed acquisition's scheme implementation
deed ("SID").
The letter also states that other than a reduction in the offer
price, Dye & Durham is not prepared to make any further
amendments or alterations to the SID and that the company expects
the ACCC approval, based on the contemplated undertaking, will
satisfy one of the key outstanding conditions of the SID.
The revised proposal is subject to agreement with Link Group and
documentation being successfully finalized.
About Dye & Durham
Dye & Durham Limited is a leading provider of cloud–based
software and technology solutions designed to improve efficiency
and increase productivity for legal and business professionals. Dye
& Durham provides critical information services and workflows,
which clients use to manage their process, information and
regulatory requirements. The Company has operations in Canada, the United
Kingdom, Ireland and
Australia, and has a strong
blue-chip customer base that includes law firms, financial service
institutions, and government organizations.
Additional information can be found at www.dyedurham.com
SOURCE Dye & Durham Limited