Insignia Financial (ASX:IFL) has dismissed recent media reports suggesting that global investment firm Brookfield Asset Management is considering a takeover bid.
In an announcement to the ASX, Insignia confirmed that it has not received any proposal from Brookfield, despite speculation of an impending offer.
The statement comes amid ongoing takeover interest, as Insignia has already received two other offers in recent months.
Late last year, Insignia rejected a $2 billion bid from Bain Capital, stating that the proposal did not reflect fair value for its shareholders.
The wealth manager was also presented with another offer from New York-based CC Capital Partners on Jan. 3.
CC Capital proposed $4.30 per share, representing a 7.5% premium over Bain Capital’s previous offer of $4.
Insignia's board is currently evaluating the CC Capital proposal to determine whether it is in the best interest of shareholders.
However, the board cautioned that there is no guarantee the indicative proposal would lead to a binding offer or result in any transaction.
Insignia's largest shareholders include several prominent superannuation funds and financial services companies, with Tanarra Capital holding the most significant stake at 12.5%.
Other major shareholders include Hostplus (9.1%), Mitsubishi UFJ Financial Group (8.3%), First Sentier Investors (8.3%), Australian Retirement Trust (8.2%), State Street (7.1%), and Vanguard (5%).
At the time of reporting, Insignia Financial's share price was $4.10.