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Dye & Durham Soars After Beating Carlyle on Australia Deal

  • Cash offer at 15% premium over Link’s Tuesday closing price
  • Deal includes Link’s 43% stake in recently spun-out PEXA Group
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Canadian software firm Dye & Durham Ltd. jumped as much as 21% after reaching a deal to to buy Australian data services firm Link Administration Holdings Ltd. for about C$3.2 billion ($2.5 billion).

The cash offer represents a premium of about 15% over Tuesday’s closing price for Link, the Toronto-based company said in a statement. As part of the deal, Dye & Durham will also indirectly acquire Link Group’s 43% ownership in the recently spun-out conveyancing business PEXA Group Ltd.