Mitsubishi UFJ Trust & Banking, a unit of Japan's Mitsubishi UFJ Financial Group, agreed to acquire Link Administration.
If approved, Link Group shareholders will receive $2.10 cash per share plus a $0.16 cash dividend per share, totalling $2.26 per share, valuing the Australian company's equity at $1.2 billion and implying an enterprise value of $2.1 billion.
Link's board unanimously recommends shareholder approval, and the scheme is subject to regulatory and shareholder approvals.
The transaction is set to be implemented in June 2024, pending conditions and approvals.