US EditionDoes Macquarie Rate AUB Group Shares a Buy After the Deal Fell Through?
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Does Macquarie rate AUB Group shares a buy after the deal fell through?
When a takeover bid collapses, investors usually see it as bad news. But in the case of AUB Group Ltd (ASX: AUB) and its failed takeover by private equity suitors, it may actually be good news of sorts. Macquarie's latest research suggests that it might finally be back to business for the insurance broker network. A few days ago, AUB confirmed that EQT and CVC had terminated discussions regarding a potential takeover. The suitors decided not to …
AUB Group drops as EQT and CVC end AUD5.25bn approach
AUB Group shares fell sharply on Monday after EQT and CVC Asia Pacific ended a takeover pursuit that saw the Australian insurance broker valued at AUD5.25bn ($3.44bn), according to a report by Reuters. The stock dropped 17.5% to AUD30.66 by early trading, making it the worst performer on the ASX200, which was flat on the day. AUB said the consortium had withdrawn from further discussions, noting that the proposed AUD45-per-share offer appropriat…
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