Insignia Financial offers CC Capital due diligence after improved takeover bid

The news: Insignia Financial has offered to provide a period of limited due diligence to US private equity firm CC Capital following its latest takeover offer, tabled on Friday.

The numbers: Insignia's board said it has carefully considered the $4.60-per-share bid, which topped an earlier proposal of $4.30 per share by rival suitor Bain Capital.

The context: Insignia said the provision of due diligence is designed to determine if CC Capital is able to formulate a "further improved proposal" from its revised offer.

The due diligence will give CC Capital a limited period of access to certain non-public information on a non-exclusive basis, the company said.