Get the Christmas-themed popcorn out, a battle is brewing at MLC owner Insignia Financial.
Insignia’s board, advised by Citi and Gresham, has rejected US private equity giant Bain Capital’s $4-a-share indicative bid – a 31 per cent premium to the undisturbed price – in only three business days.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
