Insignia Financial receives revised takeover proposals from Bain Capital and CC Capital

MELBOURNE: Insignia Financial Ltd. (ASX: IFL), a leading Australian wealth manager, announced on March 7, 2025, that it has received revised non-binding takeover proposals from Bain Capital Private Equity, LP, and CC Capital Partners, LLC.

Both firms have offered to acquire all shares in Insignia Financial at A$5.00 per share, representing an 8.7% increase from their previous offers of A$4.60 per share.

The insignia financial ltd (ASX: IFL) share price has soared 11% after receiving larger takeover offers.

The revised proposals come after Insignia Financial’s board determined that the terms of each offer were attractive to shareholders. The board has agreed to enter into exclusivity agreements with both Bain and CC Capital to allow further due diligence, which is expected to be completed within six weeks.

The A$5.00 per share offer represents a significant premium over Insignia Financial’s recent share prices. It is a 63% premium to the closing price of A$3.06 on December 11, 2024, the last trading day before the initial proposal from Bain was announced. It also represents a 56% premium to the one-month volume-weighted average price and a 77% premium to the three-month average price up to December 11, 2024.

The proposals are subject to several conditions, including satisfactory completion of due diligence, unanimous board recommendation, and final approval from the respective investment committees of Bain and CC Capital. Any transaction would also require regulatory approvals from the Australian Prudential Regulation Authority and the Foreign Investment Review Board, as well as shareholder approval.

Insignia Financial has engaged Citigroup and Gresham Advisory Partners as financial advisers and King & Wood Mallesons as legal advisers for the process.

The company emphasized that there is no certainty that either proposal will result in a transaction and advised shareholders to take no action at this time. Insignia Financial will continue to update the market in accordance with its continuous disclosure obligations.