Caryles

SS&C Tech lobs $2.24 bln bid for Australia’s Backlink, enhances on Caryle’s provide

Adds specifics of supply, qualifications

Dec 7 (Reuters)Link Administration Holdings LNK.AX, on Monday received a A$3.02 billion ($2.24 billion) buyout proposal from SS&C Systems Holdings Inc SSNC.O, weeks just after indicating it did not see compelling price in a takeover bid by a Carlyle Group-led private fairness consortium.

Connecticut, U.S.-based program supplier SS&C’s non-binding offer of A$5.65 a share is at a 13.9% high quality to the Australian shareholder registry firm’s closing rate on Monday.

It was 4.6% bigger than the sweetened A$5.40 per share supply Hyperlink been given from private equity firms Carlyle CG.O and Pacific Fairness Partners in Oct.

Backlink had agreed to open its books to the non-public equity duo in Oct, but experienced flagged that it did not see “persuasive price” in the raised takeover supply.

The provide value assumes that no even more dividends, distributions or reductions in cash would