CVC joins EQT's $5.3b takeover move for AUB Group
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The news: Insurance broker AUB Group will allow its suitor EQT to form a consortium with CVC Asia Pacific to jointly pursue its takeover proposal, announced last month.
The numbers: CVC will join the $45-per-share proposal by Swedish private equity fund EQT, which was already undergoing a period of exclusive due diligence by AUB.
The context: AUB's board said it will now extend the exclusivity period by a further two weeks to 4 December. AUB said there is no guarantee that a binding agreement will be reached with EQT and CVC.
The source: ASX
