Chanticleer
Link wins big with PEXA as KKR’s bid goes pop
A takeover tussle has helped lift the value of electronic property conveyancing titan PEXA by 70 per cent in seven months.
As the dust settles on the epic battle over electronic property conveyancing titan PEXA, the scoreboard reads well for Link Group chairman Michael Carapiet, chief executive Vivek Bhatia and their investors.
Just seven months ago, when private equity duo Pacific Equity Partners and Carlyle made a revised bid for Link at $5.40 a share, it valued the rapidly growing PEXA, in which Link owns a 44 per cent stake, at $1.9 billion.
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