Insignia Financial (ASX:IFL) suitors Bain Capital Private Equity and CC Capital Partners each raised their takeover proposals to AU$5 cash per share, according to a Friday filing with the Australian bourse.
The original bid was at an already premium price of AU$4.60 per share based on levels in December 2024 when the original offer was made.
In the same filing, Insignia Financial's board recommended entering into an exclusivity deed with each of Bain and CC Capital. Both parties will be given access to confirmatory due diligence, which can be completed within six weeks.
In the absence of a superior proposal, the board intends to recommend an offer of at least AU$5 per share, subject to entry into a scheme implementation deed, per the filing.
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