Australia's Link to consider Dye & Durham's revised $1.6 billion bid

(Reuters) - Australia's Link Administration said on Thursday it would consider a revised A$2.34 billion ($1.59 billion) base scheme takeover bid from Canadian cloud-based software firm Dye & Durham, after rejecting its lowered offer earlier this week.

The latest A$4.57 per share bid is at a 19.3% premium to share registry firm Link's last closing price, but is still lower than the original A$5.50 apiece that Dye & Durham (D&D) offered in December

That bid was trimmed to A$4.30 last week citing low market value of the company. Link rejected this offer on Monday but said it would continue to engage with the bidder.

D&D on the Toronto stock exchange said it was "not prepared to make any further amendments or alterations" to the offer. (https://bit.ly/3NSGaCK)

Apart from the A$4.57 apiece, Link shareholders would continue to be entitled to receive A$0.13 per share under the current scheme if D&D reaches agreement to sell Link's Banking and Credit Management (BCM) business, the Australian firm added.

Link Administration shares jumped 7.8% to A$4.13, as at 0016 GMT, marking their biggest intraday jump since May 13.

($1 = 1.4751 Australian dollars)

(Reporting by Himanshi Akhand in Bengaluru; Editing by Devika Syamnath and Rashmi Aich)