Bain Capital and CC Capital have both revised their bids to acquire all the shares in Insignia Financial. Both bidders have offered $5 cash per share. Insignia’s board is continuing negotiations with both companies.
The board will provide both parties access to confirmatory due diligence that is expected to be completed within six weeks.
The revised proposals represent an increase of 8.7% from the $4.60 per share offers previously made by the companies.
There is no certainty that either proposal will result in any transaction being put to Insignia Financial shareholders for their consideration, states the board.
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