Australia's Insignia Financial soars on reports of Bain Capital buyout
- Shares of Insignia Financial soared more than 10% in the final minutes of trade on Thursday on media reports that private equity investor Bain Capital was in advanced stages of making a buyout offer for the Australian wealth manager.
Bain Capital, which bought out Virgin Australia during the COVID-19 pandemic in 2020, is working with Bank of America on a potential takeover of the A$2.27 billion financial services firm, the Australian Financial Review reported citing unnamed sources. Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
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