Australia's Insignia Financial rises on $1.92 bln revised offer from Bain Capital

Insignia Financial

23/01/2025 24:08

** Shares of wealth manager Insignia Financial  IFL.AX  rise
2.1% to A$4.525 
    ** Stock rises as much as 2.7% earlier in the day to hit its
highest level since late October 2021
    ** Insignia Financial receives improved offer from
U.S.-based Bain Capital to acquire co for A$3.07 bln ($1.92 bln
), matching rival CC Capital Partners' offer
    ** Co had previously rejected an approach from private
equity firm Bain Capital in late December
    ** Stock up 24.8% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))