Insignia rejects Bain Capital
Insignia Financial (ASX:IFL) has rejected a takeover proposal from Bain Capital, saying that the offer did not reflect the company's value.
Read MoreTag: IFL
Bain Capital makes offer to Insignia Financial
Insignia Financial (ASX:IFL) has received an indicative, non-binding proposal from Bain Capital to acquire all its shares via a scheme of arrangement.
Read MoreIFL – Credit Suisse rates the stock as Outperform
Credit Suisse assesses there is significant demand for advice and a large opportunity for a firm such as IOOF Holdings. Outperform reiterated. Target is $5.
Read MoreACCC Approves IOOF Acquisition Of MLC
IOOF’s $1.4 billion acquisition of MLC Wealth Management from the National Australia Bank will go ahead after the competition watchdog cleared the deal on Monday.
Read MoreIOOF Bets Big On Scale & Synergies With $1.4b Deal To Buy MLC
Melbourne-based wealth manager IOOF is buying the National Australia Bank’s final remaining wealth business for $1.5 billion, a move that completes big four banks divestment from the super, wealth management, and insurance businesses.
Read MoreP&I In The Bag But IOOF Has Its Work Cut Out
IOOF Holdings has finally completed the acquisition of the ANZ P&I business, and provided softer-than-expected first half guidance.
Read MoreAPRA Ticks Off ANZ OnePath Sale
It seems IOOF is back in the good books of regulators after APRA okayed the $825 million purchase of ANZ Bank’s superannuation business.
Read MorePainful Adjustment For IOOF Still Looms
Bell Potter is critical of wealth manager IOOF Holdings, which is yet to provide updated details on earnings and synergies from its reinvigorated ANZ P&I transaction.
Read MoreIFL – Macquarie rates the stock as Outperform
IOOF ‘s net flows held up reasonably well in the Sep Q under the circumstances, Macquarie notes, with platform inflows offset by outflows from advice and investment management.
Read MoreTroubled IOOF Surprises With Special Dividend
A decision by wealth manager IOOF to give shareholders a surprise 7 cents a share special dividend yesterday raised eyebrows and helped send the shares down 6.9% to $4.84.
Read MoreHeadwinds Build For Insurers And Wealth Managers
As FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
Read MoreIOOF Confirms Interim CEO Now Permanent
Troubled wealth group IOOF obviously found it impossible to recruit a new CEO externally (as did rival AMP) so it has settled for the stand in bloke to take up the gig permanently.
Read MoreIOOF – ANZ Super Deal Faces New APRA Hurdle
More doubt has been cast on the proposed near $1 billion sale by ANZ Bank of its superannuation business to IOOF.
Read MoreBendigo Divests Advice Arm To IOOF
Bendigo and Adelaide Bank is getting out of financial advice by selling its business in this sector to IOOF (itself a challenged operator in financial advice and funds management) for $3 million dollars.
Read MoreBelated Departure For Beleaguered IOOF Boss
It’s taken a few months but IOOF managing director Christopher Kelaher finally departed the embattled wealth manager yesterday as it now refocuses on “restoring trust” to its damaged brand name.
Read MoreIOOF Execs Step Down To Battle APRA
Shares in stricken wealth manager IOOF Holdings lost another 7% yesterday after its CEO and chairman stepped down to fight moves by APRA, the prudential regulator to disqualify them from managing superannuation funds.
Read MoreAPRA Action Sends IOOF Shares Into Free-Fall
Shares in IOOF Holdings were hammered on Friday after APRA, the banking and insurance regulator shocked the market with moves to disqualify the troubled wealth manager’s top executives and impose new, restrictive license conditions.
Read MoreIOOF Lifts Profits, Investors Unimpressed
Investors didn’t like the apparently solid interim result from fund manager IOOF (IFL) and higher dividend.
Read MoreIOOF Faces Downgrades
For some reason analysts and investors baulked at the news late Wednesday afternoon from IOOF that funds under management had fallen and earnings would be hurt.
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