What’s going on with Link (ASX:LNK) shares?

Link Administration Holdings Ltd (ASX:LNK) shares are in the news today after the company gave an update. 

Link Administration Holdings Ltd (ASX: LNK) shares are in the news today after the company gave an update.

What happened?

You may have seen a couple of days ago that Link received a conditional, non-binding indicative offer from SS&C Technology Holdings to buy 100% of Link.

SS&C is a NASDAQ listed global provider of investment and financial software-enabled services and software for the financial services and healthcare industries. It has 150 offices in 35 countries.

The cash price being offered by SS&C is $5.65 per Link share.

At the time the Link board decided they’d have a look at the offer with their advisers.

Today, the company gave an update noting that it’s non-binding and indicative in nature and subject to lots of other conditions.

Link’s board thinks the SS&C proposal doesn’t represent compelling value for shareholders on a control basis, but thought it was appropriate to provide SS&C with due diligence information on a non-exclusive basis so that it can develop a proposal that may be capable of being recommended to shareholders.

Link said there’s still no guarantee there will be a proposal worth accepting.

It’s exciting if you’re a Link shareholder, but there are other ASX dividend shares I’d rather buy over Link in the financials space such as Magellan Financial Group Ltd (ASX: MFG).

At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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