Global Transformation Program News Today : Breaking News, Live Updates & Top Stories | Vimarsana
FedEx: we are helping to offset continued global volume softness
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FedEx Corp Reports First Quarter Results
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Stock Market | FinancialContent Business Page
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Link posts fall in profits after regulatory challenges
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In afternoon trade, the administration services company’s shares are down 6% to $4.96.
Why is the Link share price sinking?
Investors have been selling Link’s shares following the release of an update on its takeover approach by a consortium comprising Pacific Equity Partners, Carlyle Group and their affiliates.
Last year the consortium made a non-binding indicative proposal to acquire the company for a cash price of $5.40 per share.
SS&C Technology then came to the table in December, outbidding the consortium with a conditional, non-binding indicative proposal of $5.65 cash per share.
However, after providing SS&C Technology with due diligence, it soon withdrew its offer.