It’s been three weeks since Bain Capital tapped out of the bidding war at Insignia Financial – and even longer since we heard a peep out of the last-standing suitor CC Capital.
The stock is trading at $3.62, which is miles off the $5 per share that both bidders had offered. Not surprisingly, plenty of investors have questioned if the New Yorker is still working to firm up its non-binding indicative bid from March – or if it is about to walk out with an excuse such as “macro uncertainty” that Bain Capital cited in its parting note.
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