Overview

• Mitsubishi UFJ Trust and Banking is set to acquire Australian data manager Link Administration Holdings in a deal valued at about ¥106 billion ($739.9 million).
• The Japanese bank will pay AU$2.10 per share, a 23.5% premium to Friday’s closing stock price.
• The acquisition comes a year after Link Administration failed to agree on 'appropriate terms' with Canada’s Dye & Durham for a sale of multiple parts of its business.
• Since the last takeover talks ceased, Link Administration has been on a turnaround path, including the sale of its UK-based fund solutions unit to the Waystone Group.
• Japanese banks have been notably active in overseas M&A in recent years, seeking higher returns abroad due to ultra-low interest rates at home.