(Reuters) -Link Administration Holdings said on Thursday it would give U.S. software firm SS&C Technologies Holdings Inc due diligence access, to better its A$3.02 billion ($2.25 billion) offer in the race to buy the shareholder registry firm.
Link said SS&C Technologies’ A$5.65 per share offer was not compelling enough, despite being nearly 5% higher than a rival bid from private equity firms Carlyle Group and Pacific Equity Partners.
SS&C Technologies and the private equity duo now both have access to Link’s books.
Shares of Link on Wednesday ended higher than the Carlyle-backed consortium’s A$5.40 per share offer, but shy of SS&C Technologies’ bid.
Link, which also provides services to fund managers and trading firms, said in October it was looking at potentially spinning-off PEXA, an online property transaction firm owned 44.2% by Link, into a separate listed company.
The Carlyle offer also includes an option to buy Link without PEXA for A$3.80 per share.
