The Australian company said its board “does not believe it is able to recommend” the Toronto-based legaltech firm’s downsized offer. (The Logic)

Talking point: Link Group said it “is continuing to engage with Dye & Durham” to see if they can reach an agreement. Dye & Durham changed its offer late last month from A$5.50 per share to A$4.30 per share, citing “the current state of the financial markets.” Economic conditions have led to a global drop in merger and acquisition activity. The firm has wanted to make the acquisition as it sees many opportunities to cross-sell between the two companies’ products. Late last year, it acquired Telus’s financial solutions business for CAD$500 million.