Insignia denies speculation over third PE takeover bid
Further fuel has been added to the Insignia Financial acquisition fire after the financial services firm was forced to comment on speculation that it had received another takeover bid from Canadian giant, Brookfield.
In an announcement posted to the Australian Securities Exchange (ASX) on Friday morning, Insignia confirmed that it had not received an acquisition proposal from Brookfield, which was previously reported by The Australian newspaper.
The firm said it remained compliant with the ASX Listing Rules and would continue to inform the market “if or when there are material matters to disclose” as required.
The Board of Insignia Financial, along with its financial and legal advisers, is currently weighing up an indicative acquisition proposal lodged by US private equity firm, CC Capital, which was disclosed to markets on Monday.
This follows not even one month after the company received its first takeover bid from fellow US private equity giant, Bain Capital, received and rejected in December.
It's entertaining watching people who didn't care at toss about equity when advisers copped it, but now they're facing the…
Besides AI has made these "Research Houses" obsolete. Go use Grok or Gemini.
Only took six months
No way would I pay for the rubbish that comes out of so called rating and research houses. Paying someone…
And people wonder why advisers are leaving the industry (or just getting out of providing any form of personal advice…