Tag: Takeover

Link Shares Jump 27% on Pacific Equity, Carlyle Group Takeover Proposal

Link Administration Holdings Ltd, an Australia-based provider of services in superannuation administration industry, said it has received a conditional A$2.76 billion proposal from a consortium comprising Pacific Equity Partners, Carlyle Group to acquire 100% of the stake, sending its shares up 27% to A$5.1 on Monday.

The non-binding offer of A$5.20 a share is at a 30.3% premium to the shareholder registry firm’s last closing price and has the support of Perpetual Ltd, which owns 9.7% of the company, Reuters reported.

The Link Group Board will consider the Proposal, including obtaining advice from its financial and legal advisers. Shareholders do not need to take any action in relation to the Proposal. It should be noted that there is no certainty that the discussions with the Consortium will result in any transaction, the company said.

Link Group has appointed Macquarie Capital and UBS as its financial advisers and Herbert Smith Freehills

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Frasers bonus plan, G4S takeover bid, Tesco plans

The board of Frasers Group, which owns Sports Direct, has urged shareholders to back a £100m company bonus scheme. Photo: Toby Melville/Reuters
The board of Frasers Group, which owns Sports Direct, has urged shareholders to back a £100m company bonus scheme. Photo: Toby Melville/Reuters

Here are the top business, market, and economic stories you should be watching today in the UK, Europe, and around the world:

Frasers Group board back £100m staff bonus plan

The board of Frasers Group, majority-owned by Mike Ashley, has urged shareholders to back a £100m ($128.9m) company bonus scheme that “could be worth in excess of £100m” for staff.

The company, which owns Sports Direct, Flannels, Evans Cycles, USC, Jack Wills and GAME, said in a statement the “vast majority” of workers could receive cash or stock bonuses if its share price reaches a target level.

“Eligible and qualifying” workers could receive cash bonuses for up to four weeks’ salary, while 1,000 outstanding staff could receive shares worth between £50,000 and around £1m.

The scheme would run

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William Hill Said to Get Takeover Proposals From Apollo, Caesars

U.K. gambling group William Hill WIMHY has received takeover approaches from New York private-equity group Apollo Global  (APO) – Get Report and from Caesars,  (CZR) – Get Report a media report says.

Apollo approached William Hill to discuss a deal for the $3 billion market-capitalization company, and discussions are still at an early stage, sources told Bloomberg. 

Caesars has also approached William Hill about a takeover, according to Bloomberg, and both parties have made separate cash proposals for the company. 

Five weeks ago Jefferies analyst James Wheatcroft, in a note reported by Barron’s, wrote that William Hill shares were inexpensive because investors weren’t taking account of the U.K. company’s U.S. sports-betting franchise.

At last check William Hill American depositary receipts were 35% higher at $15.29.

Apollo already has a history in gambling investments following a leveraged buyout of Harrah’s Entertainment in 2008. Harrah’s was subsequently renamed

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