ASX-listed wealth giant Insignia Financial has received a non-binding, indicative proposal from private equity firm CC Capital Partners.
It came after Insignia received and rejected the takeover offer from Bain Capital in December.
The new offer from CC Capital Partners proposed to acquire all Insignia shares at $4.3 cash per share. It represents a 7.5 per cent premium to Bain Capital’s non-binding indicative proposal of $4.00 cash per share.
Insignia has engaged Citigroup and Gresham Advisory Partners as its financial advisers
and King & Wood Mallesons as its legal adviser