Clearlake’s offer to purchase ITP?

Far from guaranteed. A lot can happen in a deal. There can be a higher bidder, pushing prices up or there could also be issues that cause the deal to fall through.

I've been a part of a few of these in the last 3 years. Westjet in 2019, Dye and Durham last year, and Genworth MIC last year as well. In every instance, I've simply sold it when the offer came in and redeployed the capital elsewhere. The only reason to hold ITP right now is if you feel someone else is going to come along and offer more.