Insignia Financial Ltd. (IOOFF), an Australian financial services provider, said on Monday that it has received a non-binding and indicative proposal from Bain Capital to acquire all IOOFF shares for A$4.30 per share in cash.
The revised indicative proposal represents a 7.5 percent premium to Bain Capital's previous non-binding indicative proposal of A$4 cash per share.
Insignia said that its Board is considering the revised indicative proposal in parallel with its consideration of the proposal from CC Capital.
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