In case you missed it last week
The AFR’s Street Talk dropped an article titled “Insignia calls in Citi as PE circles” at 12:45 pm on Tuesday.The article said “Street Talk understands Brookfield’s private equity dealmakers … have a file open on the $1.47 billion Insignia. Sources said Brookfield’s interest is “very early stage” and no decision had been made to table a bid or formally approach the board.”Insignia shares surged immediately, up 13.4% between 12:45 pm and market close.But shortly after the closing bell, Insignia hosed down takeover talks with an announcement citing “Citi has not been engaged to field any offers and the company is not aware of any offer.”The stock finished 7.2% lower the next day.
Ann: Insignia Financial 3Q24 Quarterly Business Update, page-61
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