The Link Administration Holdings Ltd (ASX: LNK) share price isnât going anywhere on Monday.
This morning the company requested its shares be placed in a trading halt before market open.
At the end of last weekâs closing bell, the administration services companyâs shares finished at $4.48 apiece. Itâs worth noting the companyâs shares have gained more than 7% in value in the past week.
Why is the Link share price halted?
Prior to the market open, the company requested the Link share price be halted while it prepares an announcement.
The company says it is planning to release a statement on or before Wednesday 14 September.
The request for the voluntary trading halt is in regards to an âupdate on the regulatory approvals which are conditions precedent to the scheme of arrangement with Dye & Durham Corporation.â
Last week, the Australian Competition and Consumer Commission (ACCC) gave the go-ahead for Canadian-listed Dye & Durham to acquire Link.
The latest offer comprises of $4.81 per share which Link shareholders accepted with a 98% majority in late August.
In addition, Link shareholders will receive a net consideration of up to 13 cents per share from the sale of its Banking and Credit Management (BCM) business. Although, this is provided that the business is sold and proceeds are received up to 12 months after the implementation of the revised scheme.
About the Link share price
Over the past 12 months, the Link share price has moved in circles to return relatively nil gains for the period.
However, in 2022, the companyâs shares are down 20%.
Based on its last traded price, Link commands a market capitalisation of roughly $2.3 billion.
The post Why is the Link share price frozen today? appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Link Administration Holdings Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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