Initial Offer Set Off Frenzy of Interest
The takeover saga began in late October, when the North Sydney-based insurance broker and underwriting agency revealed it had been approached with an unsolicited, nonbinding offer from Sweden’s EQT. The pitch—AU$45 per share in cash under a scheme of arrangement—was EQT’s second attempt, following a less generous AU$43-per-share proposal in early September.
By Nov. 10, AUB had granted EQT permission to bring private-equity heavyweight CVC Capital Partners PLC into the fold. The company also extended an exclusivity period, giving the newly formed partnership additional time to scrutinize AUB’s books and test the resilience of its long-term growth plans.
Silence as Parties Walk Away
AUB, EQT and CVC did not immediately respond to requests for comment, leaving the market to speculate on what ultimately cooled the consortium’s appetite. For now, the AU$3.4 billion takeover that once seemed poised to reshape the landscape has evaporated—like a deal that dissolved before ink ever met paper.
