Daily Brief Australia: Insignia Financial, Pacific Current and more

• After CC Capital waded in on the 6th January with a A$4.30/share NBIO for wealth manager Insignia Financial (IFL AU), trumping Bain’s A$4.00/share proposal, Bain subsequently matched CC Capital’s terms.  
• CC Capital has now lifted is indicative Offer to A$4.60/share, a ~50% premium to undisturbed. Time for IFL to engage. And for Tanarra to be supportive. 
• And Bain? I expect them to match CC Capital’s terms, again; if not a small premium. 

• Pacific Current Group expected to receive a large tender offer at a premium of 20%+ in the next 2-4 months
• Trading at a 20% discount to estimated fair value NAV of A$13.47 per share with minimal NAV volatility risk
• Successful monetization of ownership stakes in boutique asset managers improving financial profile, poised for growth and value creation

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.