Australia's Insignia Financial at more than 3-year high on CC Capital's improved takeover bid

Insignia Financial

17/01/2025 24:50

** Insignia Financial  IFL.AX  jumps 5.2% to A$4.375,
highest since Oct. 28, 2021
    ** Money manager gets revised offer from U.S.-based CC
Capital Partners
    ** CC Capital's new A$3.07 bln ($1.91 bln) proposal tops
private equity firm Bain Capital's sweetened A$2.87 bln offer
    ** Under revised offer, Insignia shareholders could get
A$4.6 per share vs Bain's bid of A$4.3
    ** Stock rose as much as 5.3% in early trade - biggest
intraday pct gain since Jan. 6
    ** More than 3.2 mln shares traded, in line with the 30-day
avg
    ** IFL up 23.1% YTD

($1 = A$1.6108)

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))