AUB confirms $5.2b buyout offer from EQT affiliate Arbutus
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The news: Insurance broker AUB Group has received an acquisition proposal from Swedish private equity fund EQT that values the ASX-listed company at more than $5.25 billion.
The numbers: Under the proposal, EQT affiliate Arbutus will wholly acquire AUB through a scheme of arrangement for $45 in cash per AUB share. There are currently just under 116.6 million AUB shares on issue putting the implied equity value of the company at around $5.25 billion.
AUB entered a trading halt yesterday afternoon after spiking 12.1% on a Financial Review report that EQT was eyeing a buyout of the insurance broker. The stock last traded at $35.98 per share.
The context: AUB received the proposal on 26 September following a prior unsolicited confidential non-binding indicative proposal for $43 per share that was received on 13 September 2025.
EQT was granted a six-week confirmatory due diligence period that commenced on 8 October. AUB’s board has entered a confidentiality and exclusivity agreement with EQT to progress the proposal, which includes exclusivity as a condition.
AUB’s financial adviser is Macquarie Capital while its legal adviser is Allens.
The sources: ASX, ASX, The Australian Financial Review
