Australia's Insignia Financial soars on accepting CC Capital's takeover bid

Insignia Financial

22/07/2025 02:05

** Shares of Australia's Insignia Financial IFL.AX rise as much as 16% to A$4.56, their highest level since March 11

** Stock marks its biggest intraday pct gain since late-February 2024, emerges as top performer on the benchmark S&P/ASX 200 .AXJO index

** Stock currently up 14% as at 0055 GMT

** The money manager accepts A$3.3 billion ($2.15 billion) takeover by investment manager CC Capital Partners

** The agreed A$4.80 per share below CC Capital's March bid of A$5 per share, made to match Bain Capital's offer, but still marks a 21.3% premium to IFL's last close

** About 8.2 mln shares change hands vs its 30-day avg of 1.9 mln shares

** Stock is up 26.2% YTD, including the session's moves

($1 = 1.5337 Australian dollars)

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))