Updates
** Insignia Financial IFL.AX jumps 5.2% to A$4.375, highest since Oct 2021 and vs CC Capital's raised buyout offer of A$4.60/shr
** CC Capital's new A$3.07 bln ($1.91 bln) proposal for the money manager tops PE firm Bain Capital's A$2.87 bln offer (A$4.30/shr)
** IFL hit an intraday peak of A$4.44 before easing; trading vol in line with 30-day avg
** Brokerage Ord Minnett says CC Capital's offer tops upper end of its est of A$4.50; thinks proposal deserves consideration
** Morningstar sees 75% chance of a deal at A$4.60; raises fair value estimate to A$4.50 ($1 = A$1.6108)
(Reporting by Nikita Maria Jino and Nichiket Sunil in Bengaluru)
((Nikita.Jino@thomsonreuters.com; Nichiket.Sunil@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.