Reported 4 days ago
Insignia Financial Ltd. has requested binding takeover bids from private equity firms within the next two weeks as it seeks to be acquired. CC Capital Partners and Bain Capital are among the firms asked to submit offers, following discussions with Insignia's management. Recently, Brookfield Asset Management also entered the fray. Each firm has proposed taking the company private at around A$4.60 per share, which would value Insignia at approximately A$3.1 billion ($2 billion). As Australia’s pension sector continues to expand, this deal represents a significant opportunity for potential cost and debt management by a foreign investor.
Source: YAHOO