(Updates timeline last published on Feb 5 with new

developments)

May 14 (Reuters) -

Insignia Financial ( IOOFF ) said on Wednesday that Bain

Capital has withdrawn from making a binding bid for the

Australian wealth manager, citing global market volatility.

A former three-way contest with CC Capital and New

York-headquartered asset manager Brookfield is now down to CC

Capital as the sole bidder.

Insignia's stock dropped as much as 15.6% to A$3.37,

hitting its lowest level since December 12, 2024.

Here is a timeline of events since:

Dec. 12, 2024

Insignia shares soared over 10% in the final few minutes after

the Australian Financial Review reported that Bain Capital was

in advanced stages of making an offer for the firm.

Dec. 13, 2024

Insignia said it had received a non-binding all-cash takeover

proposal from Bain Capital, valuing the Australian company at

A$2.67 billion.

Dec. 18, 2024

Insignia rejects Bain Capital's takeover bid, saying the offer

does not provide fair value to its shareholders, creating a

barrier for the buyout giant's Asia expansion plans.

Jan. 6, 2025

Insignia receives an A$2.87 billion takeover offer from CC

Capital Partners - a family office set up by former top

Blackstone dealmaker Chinh Chu, topping Bain's bid.

Jan. 10, 2025

Insignia responds to media reports, saying that it has not

received an offer from buyout giant Brookfield. Its shares gain

to hover around A$4.14.

Jan. 13, 2025

The bidding war escalates as Insignia reveals that Bain has

sweetened its bid, now valuing the firm at A$2.87 billion,

matching CC Capital's offer.

Jan. 17, 2025

CC Capital sweetens its offer to A$3.07 billion, the first time

a bidder offers A$4.60 apiece.

Jan. 20, 2025

Insignia provides CC Capital access to non-public information to

help determine whether the U.S.-based suitor can improve its

proposal.

Jan. 23, 2025

Bain matches CC Capital's offer, pushing Insignia shares to a

high of A$4.55 that day.

Feb. 5, 2025

Brookfield emerges as the third suitor for Insignia, also

offering A$3.07 billion and sparking a three-way bidding war for

the Aussie wealth manager.

March 7, 2025

Insignia

grants access

to its books to two key suitors after both Bain Capital and

CC Capital raised their respective takeover bids to A$3.34

billion.

April 17, 2025

Insignia

extends

the exclusivity period by four weeks for both its bidders,

Bain Capital and CC Capital Partners, to consider their

proposals to acquire the wealth manager.

May 14, 2025

Bain Capital

pulls out

from the potential A$3.34 billion deal to takeover

Insignia, citing uncertainty due to turbulence in global

markets.

($1 = 1.6013 Australian dollars)

(Reporting by Rishav Chatterjee & Sherin Sunny in Bengaluru;

Editing by Mrigank Dhaniwala)