AUB takeover talks end
AUB Group, owner of Tysers, Movo and a shareholder in Momentum, has confirmed the end of sales talks with a consortium of private equity investors in a move that has knocked 17.8% off its share price.
Australia-headquartered AUB, which includes a Top 100 UK Broker arm, previously received an unsolicited approach from Swedish PE house EQT on 26 September proposing to buy the whole business for A$45 (£22.27) per share, valuing it at around A$5.25bn.
Last month the potential buyers expanded to include fellow PE house CVC Asia Pacific in a consortium with EQT with an exclusivity period for the talks extended to 4 December.
The AUB board believes that a price of $45.00 per share appropriately values
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