The Australian financial-software company Link said the timeline had expired to meet the proposed deal’s conditions. A hearing on the deal was scheduled in Sydney on Friday and Link said the court declined to approve the Toronto-based legal-software maker’s arrangement and dismissed the proceedings. Dye & Durham said Link has now terminated the discussions. (The Logic)

Talking point: It looks like the end for the embattled deal, once valued as high as $3.2 billion, after encountering a number of hurdles over several months—including challenges posed by U.K. regulators and renegotiations on a price after public markets fell this year. Dye & Durham said in a release that it was disappointed, “given the significant time and resources invested in managing this process over the last 10 months,” but that it has a robust pipeline of merger and acquisition opportunities beyond Link. “We plan to continue to focus on deploying capital,” said Dye & Durham CEO Matthew Proud in the release. The company declined to answer The Logic’s questions about the deal and prospective investments. Dye & Durham shares rose about six per cent Friday.