Dye & Durham pitches $825 million deal for Link's units after buyout deal collapses

(Reuters) -Australia's Link Administration Holdings Ltd said on Wednesday it received an A$1.27 billion ($825.37 million) bid from Canada's Dye & Durham (D&D) for the firm's corporate markets and banking segments days after D&D's takeover offer for the entire company fell through.

D&D's bid for the share registry firm's units comes just days after the legal software maker's $1.63 billion proposed acquisition of Link fell due to regulatory headwinds and global market volatility.

Link said it had received an A$1.1 billion offer on Oct. 2 for the corporate markets segments and parts of the Banking and Credit Management business. This offer followed the first proposal from D&D last week to acquire the firm's corporate markets business for A$950 million.

The share registry firm said it would consider the A$1.27 billion offer.

Link's corporate market arm offers services such as share registry, employee share plans and investor relations. It is also the company's second highest revenue generating segment.

The unit accounted for 31% of Link's revenue in fiscal 2022 with UK-based media firm ITV and Australian gambling company Tabcorp as its clientele, according to its annual report.

($1 = 1.5387 Australian dollars)

(Reporting by Tejaswi Marthi and Roushni Nair in Bengaluru; Editing by Krishna Chandra Eluri)