Australia’s Link said Friday the deal won’t go ahead after a local court denied approval for the transaction
will not proceed, after a local court denied approval for the deal citing failure to meet key conditions.
Earlier this week, Link had said Britain’s financial regulator may fine its UK unit Link Fund Solutions 50 million pounds in addition to potential 306.1 million pounds in redress over its management of LF Woodford Equity Income Fund, a now defunct entity. Link said on Friday the conditions necessary for the deal to go through, including the requirements from the FCA have not been met, adding that they didn’t expect to satisfy them going ahead.
The increasing roadblocks for Link-DND buyout underscore the growing problem of execution risks in Australian mergers and acquisitions in a year marked with share market gyrations and hard-line regulatory approach.
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