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.
ASX Close: Meek inflation fuels strong finish
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The prospect of record-low rates for at least another two to three years propelled the ASX to its strongest close in more than a week.
The
S&P/ASX 200 rallied 32 points or 0.45 per cent to its best finish since last Monday s pandemic-era closing high. The index fell short of a new 14-month closing peak by less than a point.
Gains for CSL, Coles and the banks outbalanced declines in Woolworths and the major miners.
What moved the market
The share market jumped more than 20 points and the dollar dived around a third of a cent when this week s most important economic report showed underlying
ASX gains 0.4pc as Coles, Mirvac, Ansell rally
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The Australian sharemarket gained on strong trading updates from Coles, Mirvac and Ansell, as the benchmark heads ever closer to last yearâs record.
The S&P/ASX 200 Index rose 0.4 per cent, or 30 points, to 7064.7, moving closer to the 7162 record close hit in February last year.
The gains followed a muted session on Wall Street where the S&P 500 closed flat and the Nasdaq composite fell 0.3 per cent.
Australian banks advanced, with Commonwealth Bank firming 1 per cent to $90.21, Westpac rising 1.2 per cent to $25.30, National Australia Bank climbing 1.1 per cent to $26.91 and ANZ advancing 0.5 per cent to $29.10.
LifeHealthcare partners with Acclimation to advance operations 28 Apr 2021
LifeHealthcare has partnered with Acclimation in order to realise greater growth opportunities and flexibility with SAP S/4HANA.
The independent medical device distributor in Australia and New Zealand has successfully implemented SAP S/4HANA with the support of SAP Gold Partner Acclimation.
Following the acquisition of LifeHealthcare by Pacific Equity Partners in 2018, the company focused on upgrading its technology solutions to facilitate more intelligent and streamlined inventory management, along with supporting prospective growth opportunities.
LifeHealthcare distributes a portfolio of products in various channels that include spine, orthopaedics, robotics, plastics and reconstructive surgery, and interventional neuro-vascular surgery.