Japan's Mitsubishi UFJ Financial Group to acquire Link Group (ASX:LNK)

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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.