Insignia Financial Ltd (ASX:IFL) Receives Revised Acquisition Proposals
Revised Acquisition Proposals
Insignia Financial Ltd (ASX:IFL) has received revised non-binding and indicative proposals from Bain Capital Private Equity and CC Capital Partners, each offering A$5.00 per share. This represents an 8.7% increase from the previous offers of A$4.60 per share.
Board Decision and Next Steps
The board deemed the revised proposals attractive and entered into Exclusivity Deeds with both bidders. The proposals include premiums of up to 77% over recent share prices. The board will oversee confirmatory due diligence expected to complete within six weeks.
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