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Insignia Financial Ltd ( (AU:IFL) ) just unveiled an update.
Insignia Financial Ltd received a second revised non-binding proposal from Bain Capital to acquire the company at A$4.60 cash per share, matching a previous offer by CC Capital Partners LLC. This proposal is a 7% premium over Bain’s earlier offer of A$4.30 per share. Insignia has agreed to provide Bain with limited access to non-public information under certain conditions to potentially enhance the offer. Citigroup and Gresham Advisory Partners are advising Insignia in this process, while King & Wood Mallesons serves as their legal adviser. The outcome of the proposal remains uncertain, and shareholders are advised no action is needed at this stage.
More about Insignia Financial Ltd
With origins dating back to 1846, Insignia Financial Ltd is a leading Australian wealth manager providing financial advice, superannuation, wrap platforms, and asset management services to members, financial advisers, and corporate employers.
YTD Price Performance: 27.98%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.87B
For an in-depth examination of IFL stock, go to TipRanks’ Stock Analysis page.
