Bain Capital sweetens Insignia bid
Insignia Financial has confirmed receiving a revised non-binding and indicative proposal from Bain Capital.
The company confirmed to the Australian Securities Exchange (ASX) that Bain had sweetened its offer to $4.30 cash per share (adjusted for any dividends paid or payable after the date of the Revised Indicative Proposal).
It said the revised proposal represents a 7.5% premium on Bain’s original non-binding proposal of $4 cash per share lodged in December.
Insignia’s board said it is considering the revised proposal.
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