Link Deal Positive For Dye & Durham's Leverage RatioRaymond James says there are several scenarios that may occur now that Dye and Durham lowered its offer for Link Group to A$4.30 a share from the A$5.50. Aside from the offer being rejected outright, the Link board could accept the new offer in light of the market conditions. "This would be positive for DND and its leverage ratio which was expected to be 4.0x following the acquisition," says Raymond James. The investment bank believes Dye and Durham could reduce its debt package if this happened. But Raymond James also says the lower price may attract new offers. "We believe there were interested parties for Link," it says. (adriano.marchese@wsj.com)