Benzinga | Jan 3, 2021 05:00PM EST

Link Group Said Received Letter from SS&C Stating it has Withdrawn its Proposal to Acquire 100% of the Shares in Link Group

Link Administration Holdings Limited (OTC:LNKAY) (Link Group) refers to its announcement dated 7 December 2020 advising that it had received a conditional, non-binding indicative proposal from SS&C Technology Holdings (NASDAQ:SSNC) to acquire 100% of the shares in Link Group (SS&C Proposal).

On 3 January 2021, Link Group received a letter from SS&C stating it has withdrawn its SS&C Proposal.

The Link Group Board will continue to consider all alternatives to maximise value for shareholders. As previously announced, this includes a potential separation by way of demerger of Link Group's interest in Torrens Group Holdings (TGH) (and its core asset, PEXA). LinkGroup will also explore a trade sale of its interest in TGH from 18 January 2021.

Shareholders do not need to take any action in relation to any proposal. If there are material developments in the future, Link Group will inform shareholders as requiredunder its continuous disclosure obligations.

The release of this announcement was authorised by the Link Group Board.