Brookfield made a non-binding proposal of $2.88 a share, the same value as the proposal made last month by CC Capital Partners, and later matched by Bain Capital.

Insignia Financial is now entertaining a trio of suitors after Brookfield Capital Partners joined the fight for the wealth manager with a $3.1bn bid that matches offers from rivals Bain Capital and CC Capital -- and gets it a look under the target’s hood.

Brookfield has been given access to do due diligence for a potential acquisition of Insignia Financial after it presented a bid matching offers from Bain Capital and CC Capital. The offer comes despite Insignia knocking back earlier media rumours of a Brookfield bid.

Brookfield offered A$4.60 per share for Insignia and has been granted limited access to its books, according to a statement Wednesday from Insignia. That’s the same price offered by Bain Capital and CC Capital Partners and values Insignia at about A$3.1 billion (US$1.9 billion).

Three bids now on the table for the $2.9bn Insignia Financial will likely lead to more mergers and acquisitions more broadly across the wealth management sector.

Less than a month after Insignia quashed rumours Brookfield had made a takeover offer, the private equity giant has officially entered the fray.

Insignia Financial shares have just attracted takeover interest from a third suitor. The post Up 116% in a year, Insignia Financial share price rockets again as bidding war heats up appeared first on The Motley Fool Australia.