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MarketScreener Homepage  >  Equities  >  Nasdaq  >  The Carlyle Group Inc.    CG

THE CARLYLE GROUP INC.

(CG)
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Australia's Link turns down Carlyle-Pacific Equity bid, says open to talks

10/22/2020 | 06:11pm EST

Oct 23 (Reuters) - Link Administration Holdings on Friday rejected a takeover offer of A$2.76 billion ($1.96 billion) from private equity firms Carlyle Group and Pacific Equity Partners, but said it was willing to continue talks over the bid.

The shareholder registry firm said it had arrived at the decision after discussions with the private equity duo, their advisers and its own shareholders.

The conditional offer of A$5.20 a share undervalued PEXA, an online property transaction firm that Link holds a stake in, and did not factor in a market recovery, the company said.

Before the offer was announced early last week, Link had lost nearly a third of its value since the start of the year and had swung to a full-year loss in August as the COVID-19 pandemic wrecked havoc across markets.

Link also said it was looking at potentially spinning-off its 44.2% stake in PEXA into a separate listed company. Commonwealth Bank of Australia and Morgan Stanley also hold a stake in PEXA.

Link, which also provides services to fund managers and trading firms, said it would update investors on its plans in November.

($1 = 1.4053 Australian dollars) (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Devika Syamnath)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
COMMONWEALTH BANK OF AUSTRALIA -1.55% 81.09 End-of-day quote.1.49%
LINK ADMINISTRATION HOLDINGS LIMITED -0.61% 4.91 End-of-day quote.-16.21%
THE CARLYLE GROUP INC. -0.77% 28.41 Delayed Quote.-10.75%
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More news
Financials (USD)
Sales 2020 2 177 M - -
Net income 2020 642 M - -
Net Debt 2020 144 M - -
P/E ratio 2020 15,6x
Yield 2020 3,52%
Capitalization 10 044 M 10 044 M -
EV / Sales 2020 4,68x
EV / Sales 2021 3,74x
Nbr of Employees 1 775
Free-Float 54,2%
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Technical analysis trends THE CARLYLE GROUP INC.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 31,82 $
Last Close Price 28,41 $
Spread / Highest target 32,0%
Spread / Average Target 12,0%
Spread / Lowest Target -1,44%
EPS Revisions
Managers
NameTitle
Kewsong Lee Chief Executive Officer & Director
William E. Conway Executive Co-Chairman
David M. Rubenstein Executive Co-Chairman
Christopher Finn Chief Operating Officer
Curtis L. Buser Chief Financial Officer
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