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The Link Administration Holdings Ltd (ASX:LNK) share price is surging higher today after receiving a takeover approach...

The parent company of PEXA has confirmed that the property settlements platform is expected to list on the ASX in late June, after turning down suitors in favour of a $3.3 billion IPO.

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. Ho...

(Recasts and adds CEO comment on briefing call) SYDNEY, Feb 1 (Reuters) - Australia’s Link Administration Holdings Ltd on Monday said it would prioritise a trade sale for its coveted stake in online conveyancing firm PEXA within months, instead of a demerger as it looks to capitalise on a property market rebound. The strength of the housing market had influenced the decision to sell the stake outright instead of distributing PEXA shares to Link investors, the company said, even though it would mean paying capital gain taxes of about 30% on a deal. Late last year, attracted by its 44.2% stak...