Link Group shares tumbled almost 8 per cent on the ASX on Monday as investors reacted to the collapse of a $2.5 billion buyout deal by Canada’s Dye & Durham late on Friday, with the shares now less than half the value of a public float in 2015.

Link tried to cushion the blow with the announcement it would pay a special dividend of 8¢ per share on October 14, but it was the fourth buyout proposal of Link in two years that has failed to end in a deal.