Insignia Financial Ltd (ASX:IFL) Updates on Acquisition Proposal
Latest Acquisition Proposal
Insignia Financial Ltd (ASX: IFL) is in discussions regarding a revised non-binding proposal from CC Capital Partners, LLC. The proposal involves acquiring all shares of Insignia Financial at a cash price of A$4.60 per share, subject to adjustments for any dividends that may be paid after the proposal date.
Board Review and Due Diligence
The Insignia Financial Board is carefully reviewing the CC Capital proposal. To facilitate this process, Insignia will allow CC Capital access to certain non-public information under specific conditions, including the signing of a confidentiality and standstill agreement. However, this access does not ensure that a binding offer will arise from this process.
Shareholder Guidance and Future Announcements
The company assures IFL shareholders that no immediate action is required on their part. Insignia Financial will maintain transparency and keep the market updated with further information as necessary. The upcoming 2Q25 Business Update is scheduled for release on 23 January 2025, followed by the announcement of 1H25 results on 20 February 2025.
Insignia Financial has engaged Citigroup and Gresham Advisory Partners as financial advisers and King & Wood Mallesons as legal advisers for this process.
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