PEP, Carlyle end pursuit of Australia's Link
Pacific Equity Partners (PEP) and The Carlyle Group have abandoned their A$2.7 billion ($1.97 billion) bid for Australia-based financial data and fund administration services provider Link Administration Holdings.
The two private equity firms submitted a joint offer of A$5.20 per share – a 30.3% premium to the previous close – in October 2020. Link rejected the offer, saying the valuation was too low. In December,...
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