Orro seeks new backer; Auction at Enel; MadeByCow chases investor

Good evening,

See ya Link Administration Holdings.

Link’s long-running takeover saga looks one step closer to the end, with the company backing a revised $4.81 a share bid from Canadian Dye & Durham.

The bid, while well short of the $5.50 a share deal the pair signed in December, was significantly higher than D&D’s recent efforts, and is scheduled to be completed by September 30.

It remains to be seen what the ACCC has to say about it all – D&D owns software that feeds into Link-backed PEXA’s property settlements platform. It wouldn’t surprise Street Talk to see D&D offer to sell one or two pieces of its existing business, should the regulator take a strong exception in the coming weeks.

In Street Talk tonight, we have a newcomer in the IT services sector, with Liverpool Partners-backed Orro Group up for grabs via Barrenjoey Capital.

We’ve also got our hands on Credit Suisse’s pitch for Enel’s renewable portfolio, and have found a new capital raising in the consumer goods sector.

Happy reading,

Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk Editors