AUB Group (ASX:AUB) confirmed the receipt of an unsolicited, confidential, and non-binding indicative proposal from Arbutus, an entity related to investment firm EQT AB, to acquire all the shares of the company for AU$45 per share, via a scheme of arrangement, according to a Tuesday filing with the Australian bourse.
The company's board decided to grant EQT due diligence for six weeks, effective Oct. 8, the filing said.
The board also recommended that shareholders need not take action in relation to the offer, the filing added