Dye & Durham Ltd T.DND

Dye & Durham's Revised Link Offer Could Appear Low

[alhiemstra]

Dye & Durham's Revised Link Offer Could Appear Low -- Market Talk

Thursday, July 7, 2022, 9:23 PM ET

 

0123 GMT - Dye & Durham's revised offer for Link Administration could appear on the lower side given how the Australian company's stake in Pexa has recently increased in value, JPMorgan analyst Siddharth Parameswaran says. Parameswaran points out that Pexa's share price has risen from A$12 to well over A$14 in recent weeks, during which time Dye & Durham has been trying to buy Link for less than the A$5.50 a share to which it initially agreed. Parameswaran says in a note that Link has previously attracted other suitors and maintains a A$4.80 target price, compared with Dye & Durham's most recent A$4.57 proposal. JPM is overweight on the stock, which is 0.6% lower at A$4.045. ([e-mail]; @StuartLCondie)