Insignia Financial Ltd (ASX: IFL) Receives Revised Proposal from Bain Capital
Proposal Details
Insignia Financial Ltd (ASX: IFL) has announced the receipt of a revised non-binding indicative proposal from Bain Capital. The proposal offers A$4.60 cash per share, adjusting for dividends payable after the proposal date. This price equals the earlier revised offer submitted by CC Capital Partners LLC on 17 January 2025.
The latest Bain proposal represents a 7% increase over Bain’s previous offer of A$4.30 per share. The revised proposal maintains similar terms and conditions as its prior offers, including the one submitted on 12 December 2024.
Due Diligence Access
To facilitate Bain in potentially improving their proposal, Insignia Financial has offered limited access to non-public information, conditional on a confidentiality agreement. However, this does not guarantee that this proposal will lead to a binding offer acceptable to Insignia’s Board.
Investor Guidance
Insignia Financial has advised shareholders not to take any action at this time. The company will provide ongoing updates consistent with its continuous disclosure obligations while refraining from commenting on the negotiation process with Bain.
Insignia Financial is working with Citigroup and Gresham Advisory Partners as financial advisers, while King & Wood Mallesons serves as its legal adviser. A 2Q25 Business Update is anticipated for release later today, followed by the 1H25 results announcement on 20 February 2025.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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