Private equity firm CC Capital has revised its offer for ASX listed Insignia Financial to $4.60 a share, up 30c on its 3 January figure. The offer follows Bain Capital‘s $4.30 bid on 11 January.
The board of Insignia Financial, together with its financial and legal advisers, state they are considering CC Capital’s indicative proposal while saying there is no certainty the offer will result in a transaction.
Insignia’s shares were trading at $4.14 at the time of publication.
See our report: Bain Capital ups Ante on Insignia Offer