The PEP/Carlyle consortium has increased its proposal offer to $5.40 from $5.20. A scrip alternative has been offered for PEXA along with a cash component of $3.80 for Link ex-PEXA. Morgan Stanley notes this to imply Link's 44% stake in PEXA to be worth $1.60 per share.

The broker highlights 14.6% of shareholders are in favour of the revised proposal, up from 9.6% earlier. A deadline of October 28 has been given to be given access to due diligence. The board is considering the revised proposal.

Equal -weighted retained. Target is $5.20. Industry view: In-Line.

Sector: Software & Services.

Target price is $5.20.Current Price is $4.94. Difference: $0.26 - (brackets indicate current price is over target). If LNK meets the Morgan Stanley target it will return approximately 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2020 Acquisdata Pty Ltd., source FN Arena