** Shares of Australia's AUB Group AUB.AX have lost 14.9% so far this week, and set for their biggest weekly slump since late March 2020, if current trend holds

** The insurance broking firm said on Monday that a consortium, including Swedish private equity co EQT EQTAB.ST and CVC Asia Pacific, has informed that it will not proceed with a binding proposal at a price of A$45.00 per share

** The offer valued the insurance broker at A$5.25 billion ($3.47 billion)

** In October, company granted exclusive access to its books to EQT after receiving buyout offer

** AUB falls 0.8% on the day; YTD up 1.6%

($1 = 1.5124 Australian dollars)

(Reporting by Keshav Singh Chundawat in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))