Link Administration Holdings Ltd Withdrawal of Consortium Proposal and Market Update Call Transcript
Good morning, everyone, and thank you for joining us this morning.
As you may have seen the announcement made to the ASX this morning, we have advised that the consortium comprising of Pacific Equity Partners, the Carlyle Group and the affiliates have withdrawn their proposal of a nonbinding indicative offer made on the 12th of October 2020 and the various updates post that.
Three core reasons, if I may add to give some color to the release. Clearly, passage of time, as you can see, the 12th of October was 6.5 months ago, though it does seem a lot more in today's time and age. Second is that during that period of time, the markets have moved quite significantly, circa 15%. And their interest was in the whole of the business. And now with the PEXA process getting steam in the -- for the trade sale as well as the IPO dual-track process and the PEXA asset being unavailable and that option for combined purchase being unavailable, they felt that it was not of interest for them. So that was, in summary, the core reasons for the
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