Feb 5 (Reuters) - Australia's Insignia Financial ( IOOFF )
said on Wednesday it had received an A$3.07 billion
($1.92 billion) takeover bid from Canadian firm Brookfield
, matching the latest offers from Bain Capital and CC
Capital Partners for the wealth manager.
Brookfield, in its proposal, has offered to buy the company
at A$4.60 per share, representing a 6.5% premium to Insignia
Financial's ( IOOFF ) last closing price on Tuesday.
The Brookfield offer has triggered a three-way bidding war
for Insignia, with U.S.-based Bain Capital and CC Capital
Partners having already raised their respective bids for the
company to $1.92 billion last month.
The bids come amid efforts by these companies to tap into
Australia's lucrative A$4.1 trillion superannuation system.
Insignia has granted Brookfield limited due diligence to
determine if an improved offer can be formulated, the company
said in a statement.
($1 = 1.5995 Australian dollars)