SYDNEY – Australian insurance intermediary AUB Group Ltd said on Wednesday it has received an unsolicited, non-binding proposal from private equity firm EQT to acquire the entire company for A$45.00 per share in cash.
The indicative offer from EQT’s affiliated entity, Arbutus Pte. Ltd, values the ASX-200 listed company at a significant premium and follows a prior approach of A$43.00 per share made on September 13.
In a statement to the Australian stock exchange, AUB said its board has granted EQT a six-week period of exclusivity, which began on October 8, to conduct confirmatory due diligence. The board cautioned that there is no certainty the proposal will result in a formal transaction.
The offer price would be reduced by any dividends declared by AUB, excluding the A$0.66 per share dividend announced with its full-year 2025 results in August.
The proposal is conditional on several factors, including exclusivity, satisfactory due diligence, a unanimous board recommendation, and the signing of a binding scheme implementation deed.
AUB has appointed Macquarie Capital as its financial adviser and Allens as its legal adviser. The company advised its shareholders that no action is required at this time.
AUB Group operates a network of insurance broking and underwriting businesses across approximately 579 locations, serving around 1.2 million clients.
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