insignia financial (ASX:IFL) has received an indicative, non-binding offer from Bain Capital to acquire all of its shares through a scheme of arrangement. The offer price is $4.00 per share, adjusted to take into account any dividends paid or to be paid after the offer date.

Insignia is an asset management company that traces its roots back to 1846. We provide financial advice, superannuation, wrap platforms and wealth management services to our members, financial advisors and employers.

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The proposal, submitted to Insignia after market close on 12 December 2024, includes due diligence, execution of a binding Scheme Implementation Agreement and regulatory approvals from the Foreign Investment Review Board and the Australian Prudential Regulation Authority. Certain conditions apply, including approvals. .

The Insignia Board of Directors, together with its financial and legal advisors, is evaluating this proposal to determine whether it is in the best interests of shareholders. However, Insignia stressed that there is no certainty that the deal will proceed.

Shareholders have been advised that no action is required at this stage.

Insignia stock rose 6.18% to close at $3.61 on the news.