CC Capital and OneIM Enter Scheme Implementation Deed with Insignia Financial Limited, Australia's Leading Diversified Wealth Management Group

ASX hits near-record as miners offset banks

A slump in the big four banks offset strong gains in the mining sector as the Australian market was unable to follow strong gains out of Wall Street.

Drawn-out battle ends with $3.3 billion takeover deal

The owner of MLC has agreed to a takeover from overseas private equity investors seeking exposure to the $4.2 trillion superannuation pool.

Insignia soars after striking $3.4b CC Capital deal

Insignia Financial shares surged as much as 16 per cent after CC Capital agreed to buy the Australian wealth manager in a deal worth around $3.4 billion, following a months-long bidding tussle.

Miners drive modest gain for ASX, banks slump; Insignia agrees to $3.3b takeover

The Australian sharemarket has edged higher, with mining shares jumping after a rise in iron ore prices overnight.

CC Capital and OneIM Enter Scheme Implementation Deed with Insignia Financial Limited, Australia's Leading Diversified Wealth Management Group

CC Capital and OneIM to acquire Insignia Financial Limited for A$4.80 per share via a scheme of arrangement, a 56.9% premium to Insignia's last undisturbed closeTransaction represents implied enterprise value of A$3.9 billion (US$2.5bn)Insignia's Board unanimously recommends the proposed transaction,…

CC Capital lands $3.2b Insignia Financial deal with a discount

The all-cash deal will put to an end the uncertainty that has hovered around the protracted takeover of the 180-year-old wealth management giant.