By Stuart Condie
SYDNEY--Brookfield Asset Management made a US$1.93 billion proposal for Insignia Financial, becoming the Australian wealth manager's third suitor.
Insignia on Wednesday said that Brookfield made a non-binding proposal of 4.60 Australian dollars, or US$2.88, a share. That is the same value as the proposal made last month by CC Capital Partners, and later matched by Bain Capital.
Brookfield's proposal is for cash or shares in an unlisted post-takeover entity, Insignia said.
Brookfield, which made the approach through its Brookfield Capital Partners (U.K.) unit, already owns financial-services businesses in Australia. Local acquisitions include lender and asset manager La Trobe Financial, which cost US$1.1 billion in 2022.
ASX-listed Insignia, which has opened its books to CC Capital and Bain, granted Brookfield limited due diligence on a non-exclusive basis in the hope of attracting a binding offer.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
February 04, 2025 18:48 ET (23:48 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。