Two private equity firms are slugging it out to acquire Insignia Financial. Bain Capital has increased its offer for the insurer by putting $4.30 a share on the table, matching CC Capital‘s 3 January offer.
The revised proposal represents a 7.5% premium to Bain Capital’s original non-binding proposal of $4 cash per share announced 12 December 2024.
Bain Capital states it is open to discussing a transaction structure that would provide Insignia Financial shareholders with an opportunity to receive a proportion of their total consideration as scrip consideration in the ultimate Bain Capital-controlled holding entity of Insignia Financial.
The board of Insignia is considering the proposal in parallel with its consideration of the CC Capital Proposal.
There is no certainty that either proposal will result in a binding offer or that any transaction will eventuate, states Insignia.
See our report: Bidding War for Insignia Financial
