Under the deal, shareholders of Link Administration will receive A$2.10 in cash, in addition to a dividend of A$0.16 per share, expected to be paid by the company, resulting in a total of A$2.26 per share, implying an enterprise value of A$2.1 billion ($1.41 billion)

The Japanese banking major has a 6.4% stake in the share registry firm, as of Nov. 27.

The board said that it recommends that Link Group shareholders vote in favour of the scheme in the absence of a superior proposal.

($1 = 1.4950 Australian dollars)

(Reporting by Archishma Iyer in Bengaluru; Editing by Sandra Maler and Lisa Shumaker)