AUB Group's Approval of EQT, CVC Consortium Indicates Industry Backdrop Remains Supportive for Mergers, Jarden Says
MT Newswires Live
Nov 11
AUB Group's (ASX:AUB) decision to allow EQT to form a consortium with CVC Asia Pacific is consistent with the analyst's view that the industry backdrop remains supportive for mergers and acquisitions, Jarden said in a Monday note.
AUB Group agreed to allow EQT to form a consortium with CVC Asia Pacific after CVC made an unsolicited approach to jointly pursue EQT's AU$45 per share acquisition of the company.
CVC has a history of investing in general insurance businesses, the analysts noted.
The investment firm maintained its overweight recommendation on AUb Group and kept its price target of AU$40.20 per share.
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