The deal will give Dye & Durham access to Link's prized 43% stake in online realty firm PEXA Group Ltd, which listed on the Australian stock market in July after Link rejected a bid for the company by KKR & Co.

Dye & Durham said on Tuesday it would offer Link A$5.50 in cash for each share, a 14.8% premium to the stock's last traded price on Dec. 21. Link's shares rose by as much after trade resumed on Wednesday, while PEXA rallied 6%.

The bid was higher than Carlyle Group Inc's offer for Link last month. Link said it had not received any binding offers from the U.S.-based private equity firm after a period of due diligence.

Carlyle declined to comment.

Dye & Durham said it expected to add A$1.2 billion ($856.08 million) in revenue, while broadening its product offerings and customer base through the deal, which will be funded by raising debt and via a share placement.

($1 = 1.2908 Canadian dollars)

($1 = 1.4017 Australian dollars)

(Reporting by Anushka Trivedi in Bengaluru; Additional reporting by Savyata Mishra; Editing by Shounak Dasgupta and Subhranshu Sahu)