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BUZZ-Australia's Insignia Financial rises on $1.92 bln revised offer from Bain Capital

Reuters
2025/01/23
BUZZ-Australia's Insignia Financial rises on $1.92 bln revised offer from Bain Capital

** Shares of wealth manager Insignia Financial IFL.AX rise 2.1% to A$4.525

** Stock rises as much as 2.7% earlier in the day to hit its highest level since late October 2021

** Insignia Financial receives improved offer from U.S.-based Bain Capital to acquire co for A$3.07 bln ($1.92 bln ), matching rival CC Capital Partners' offer

** Co had previously rejected an approach from private equity firm Bain Capital in late December

** Stock up 24.8% YTD, as of last close

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com;))

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