Asia Digest: Carlyle, Pacific Equity abandon bid for Link; Quadrant partially exits Peter Warren
REUTERS/Thomas White
April 30, 2021
The Carlyle Group and Pacific Equity Partners have abandoned their $1.97 billion bid for Link Administration Holdings, while Quadrant Private Equity has made a partial exit from automotive group Peter Warren Automotive Holdings.
Carlyle, Pacific Equity abandon bid for Link Administration
Global investment firm The Carlyle Group and Pacific Equity Partners have abandoned their A$2.7 billion ($1.97 billion) bid for Australia-based Link Administration Holdings.
Link Administration, a financial data and fund administration services provider, received a conditional A$2.76 billion ($2 billion) takeover offer from PE firms Carlyle Group and Pacific Equity Partners last year.
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April 28 (Reuters) - Australian shares edged higher on Wednesday as energy stocks rose tracking an uptick in oil prices, though losses in gold and technology capped gains.
The S&P/ASX 200 index rose 0.11% to 7,041.5 points by 0027 GMT.
The top percentage gainer on the benchmark index was Ansell Ltd, rising 5.1% after projecting strong sales growth for the half year and full year.
The top percentage losers on the index were St Barbara Ltd , with a 7.6% fall, and JB Hi-Fi Ltd, losing 3.9%, as both companies reported disappointing earnings for the quarter.
Shares of Bingo Industries Ltd were the most traded by volume for the second day in a row, after it said on Tuesday it would be bought by funds managed by Macquarie Group for $1.8 billion.
ASX Update: Market cheers ‘low rates for longer’
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Shares surged and the dollar dropped after unexpectedly mild inflation data doused fears the Reserve Bank might raise the cash rate ahead of previous guidance.
The
S&P/ASX 200 jumped more than 20 points after the data drop, boosting cautious early gains to a mid-session tally of 29 points or 0.41 per cent. The
dollar dived around three-tenths of a cent to 77.37 US cents.
What s driving the market
Worries about
inflation were blown away by weaker-than-expected quarterly data. The consumer price index rose a tepid 0.6 per cent over the first three months of the year. Annual growth was 1.1 per cent, well short of the Reserve Bank s 2 - 3 per cent target range. The bank has previously said it would need to see inflation hold sustainably within that range before it will consider raising rates. Underlying inflation increased 0.3 per cent for the quarter and 1.1 per cent