Aussie competition regulator to not oppose $1.7 bln Link buyout by Dye & Durham
Summary
Register now for FREE unlimited access to Reuters.com Register Sept 8 (Reuters) - The Australian competition regulator said on Thursday it will not oppose an A$2.47 billion ($1.67 billion) acquisition of Link Administration Holdings (LNK.AX) by Canadas Dye & Durham Ltd (DND.TO), if it divests its existing local business. The Australian Competition & Consumer Commission (ACCC) said the acquisition would be unlikely to "substantially lessen competition", assuming the Canadian cloud-based software firm divests its existing local businesses, as stated in Dye & Durhams court-enforceable pledge. (https://bit.ly/3x1Sc7q) "Ultimately, the ACCC concluded that the proposed acquisition, taking into consideration the divestiture undertaking, would be unlikely to substantially lessen competition." The approval comes on the heels of PEXA Group announcing acquisition of a UK-based remortgage processing firm Optima Legal on expectations that rising interest rates prompt people to switch their lenders in search of better rates. read more Reporting by Sameer Manekar and Jaskiran Singh in Bengaluru; editing by Uttaresh.V and Rashmi Aich
