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ACCC delays approval of Link Group acquisition

The Australian Competition and Consumer Commission is delaying its decision on the proposed acquisition of Link Group by Dye & Durham Corporation, which was expected this week.

The ACCC was due to announce its decision on Thursday, June 9. It will now aim to deliver its findings on June 16. This has been done to allow parties time to provide additional information, the regulator said.

The ACCC began its informal review of the acquisition on March 1. At the crux of the review is Link Group's 43% stake in PEXA.

As part of its wider offering, Dye & Durham provides digital conveyancing solutions and lodgement services. PEXA is similar and operates an electronic lodgement network.

The ACCC was initially expected to release its findings on May 26 but that was delayed to give the regulator more time to consider the case.

In a statement to the ASX, Link Group said the board continues to unanimously recommend shareholders vote in favour of the proposal, saying it is fair, reasonable and in shareholders' best interests.

"Link Group will continue to work closely with D&D to progress the competition approval process and all other regulatory approvals required for implementation," Link Group said.

Read more: Link GroupACCCDye & Durham CorporationPEXAAustralian Competition Consumer CommissionASX