Canada’s Dye & Durham Ltd. reduced its takeover offer for Australian data-services firm Link Administration Holdings Ltd.
Dye & Durham cut the offer price to A$4.30 ($2.98) per share from its previous bid of A$5.50, according to a statement from Link on Monday.
Link shares are down about 16% this month after Australia’s consumer watchdog raised concerns over the merger. A unit of Link has also been served with a group lawsuit relating to its administration of former star UK stock picker Neil Woodford’s collapsed fund.
Link said it would consider Dye & Durham’s request and update shareholders within the next week.