Australia's Insignia Financial hits over 3-year high as suitors Bain and CC Capital circle firm

India Finsec

13/01/2025 24:00

** Shares of Insignia Financial  IFL.AX  rise as much as
3.2% to A$4.250, their highest levels since Oct 28, 2021
    ** Co set for strongest trading session since Jan 6, if
current trend holds
    ** IFL, a 178-year-old Australian wealth manager, received a
sweetened bid from Bain Capital for acquiring all its shares at
A$4.30 per share
    ** Bain's revised offer for IFL now matches CC Capital's
offer from last week
    ** Under the revised offer, Bain Capital also open to
providing IFL shareholders option to receive a part of the total
purchase price as a scrip consideration
    ** Shares of IFL have gained 18.6% YTD, as of last close

    

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))