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BUZZ-Australia's Insignia Financial at more than 3-year high on CC Capital's improved takeover bid

ReutersJan 17, 2025 12:50 AM

Insignia Financial IFL.AX jumps 5.2% to A$4.375, highest since Oct. 28, 2021

Money manager gets revised offer from U.S.-based CC Capital Partners

CC Capital's new A$3.07 bln ($1.91 bln) proposal tops private equity firm Bain Capital's sweetened A$2.87 bln offer

Under revised offer, Insignia shareholders could get A$4.6 per share vs Bain's bid of A$4.3

Stock rose as much as 5.3% in early trade - biggest intraday pct gain since Jan. 6

More than 3.2 mln shares traded, in line with the 30-day avg

IFL up 23.1% YTD

($1 = A$1.6108)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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