There would be a book about all the twists and turns at Link Group – but you’d have to question if there’s anyone left to read it.
The latest twist, as we revealed on Tuesday, was Canadian suitor Dye & Durham returning with a $1 billion bid for Link’s corporate markets unit.
Link obviously doesn’t like the bid. It sat on it and by Tuesday night, hours after news of the bid broke and its shares were paused from trading, Link still couldn’t bring itself to disclose it.
The irony is that Link’s corporate markets unit is the sort of thing that customers pay to help with shareholder communications, governance and the like. And here’s a business that’s tying itself in knots not to disclose something.
Anyway, a bid for all of Link has now moved on to an offer for about one-third of it as far as revenue is concerned. Link’s been talking about asset sales as a potential option and investors (those that are left) will get a chance to see whether it is serious about divestments.
In Street Talk tonight, we have a few new processes that are trying to get buyers locked in by Christmas.
Busy private equity group Livingbridge’s taking a close look at Mercury Capital’s marketing research services business FiftyFive5, which is up for grabs in an auction via E&P Corporate Advisory.
