Insignia Financial (IFL AU): The Field Narrows As Bain And CC Capital Bump Terms
Bain Capital and CC Capital have both bumped indicative terms to $5/share, a 63% premium to Insignia Financial (IFL AU)’s undisturbed closing share price of $3.06 on December 11 2024.
Both suitors have been granted four weeks of exclusivity. Confirmatory due diligence is expected to be completed within six weeks. IFL's board is supportive at A$5/share or more.
Where's Brookfield on all this? A local media source previously reported that at least one suitor was losing interest.
Bain's initial A$4.00/share non-binding indicative Offer was announced on the 13th December.
I have followed with five more insights - not including this one - as CC Capital entered the fray, followed by Brookfield.
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