IFL - Insignia Financial
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Todays winner!
Greg Canavan of fat tail investment advisory called this way back but I didn't bite.
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From Market Matters afternoon Report:
Greg Canavan of fat tail investment advisory called this way back but I didn't bite.
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From Market Matters afternoon Report:
- Australian Retirement Trust upped their stake in Insignia (IFL) +11.11% to over 10%
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Insignia Financial Ltd Receives Indicative Non-binding Proposal from Bain Capital
Insignia Financial Ltd (ASX: IFL) refers to media speculation on 12 December 2024 in relation to potential takeover interest from Bain Capital.
Insignia Financial confirms that, after market close on 12 December 2024, it received from Bain Capital a confidential, preliminary, non-binding and indicative proposal to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”).
Under the terms of the Indicative Proposal, IFL shareholders would receive A$4.00 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal).
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis, execution of a binding scheme implementation agreement, unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval of Bain Capital’s Investment Committee.
In addition, any transaction would, if entered into by Insignia Financial, be subject to the approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with Bain Capital. There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal.
Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL
this would crystallize a loss if the deal goes through at the current terms
Insignia Financial Ltd (ASX: IFL) refers to media speculation on 12 December 2024 in relation to potential takeover interest from Bain Capital.
Insignia Financial confirms that, after market close on 12 December 2024, it received from Bain Capital a confidential, preliminary, non-binding and indicative proposal to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”).
Under the terms of the Indicative Proposal, IFL shareholders would receive A$4.00 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal).
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis, execution of a binding scheme implementation agreement, unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval of Bain Capital’s Investment Committee.
In addition, any transaction would, if entered into by Insignia Financial, be subject to the approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with Bain Capital. There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal.
Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL
this would crystallize a loss if the deal goes through at the current terms
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Exactly as Greg Canavan far back predicted as likely to happen given IFL's undervaluation (at that time)
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Market Matters afternoon report:
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Market Matters afternoon report:
- Insignia Financial (IFL) +6.18% jumped after it received a $4.00 cash per share proposal from Bain Capital to acquire all shares in the business – representing a 17.6% premium to last-close
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Insignia Financial Ltd Receives Indicative Non-binding Proposal from CC Capital
On 3 January 2025, Insignia Financial Ltd (ASX: IFL) received a confidential, non-binding and indicative proposal from CC Capital Partners, LLC to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”) at a price of A$4.30 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal), or the potential alternative to roll into unlisted stub equity subject to caps and scale-back.
The Indicative Proposal represents a 7.5% premium to Bain Capital’s non-binding indicative proposal of $4.00 cash per share received on 12 December 2024.
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis and execution of a binding scheme implementation agreement.
The scheme implementation agreement, if entered into, would be conditional on (amongst other things) a unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval from CC Capital’s investment committee.In addition, any transaction would, if entered into by Insignia Financial, be subject to approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with CCCapital.
There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal. Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.Insignia Financial has engaged Citigroup and Gresham Advisory Partners as its financial advisers and King & Wood Mallesons as its legal adviser.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL ,
if either of these deals go through it will crystallize a loss for me
On 3 January 2025, Insignia Financial Ltd (ASX: IFL) received a confidential, non-binding and indicative proposal from CC Capital Partners, LLC to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”) at a price of A$4.30 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal), or the potential alternative to roll into unlisted stub equity subject to caps and scale-back.
The Indicative Proposal represents a 7.5% premium to Bain Capital’s non-binding indicative proposal of $4.00 cash per share received on 12 December 2024.
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis and execution of a binding scheme implementation agreement.
The scheme implementation agreement, if entered into, would be conditional on (amongst other things) a unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval from CC Capital’s investment committee.In addition, any transaction would, if entered into by Insignia Financial, be subject to approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with CCCapital.
There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal. Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.Insignia Financial has engaged Citigroup and Gresham Advisory Partners as its financial advisers and King & Wood Mallesons as its legal adviser.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL ,
if either of these deals go through it will crystallize a loss for me
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