AUB Group (ASX:AUB) has 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, according to a Monday filing with the Australian bourse.
EQT has requested an extra two weeks to complete due diligence and finalize transaction documents, and the board has approved extending the exclusivity period through Dec. 4, per the filing.
The confidentiality agreement will be revised to reflect these changes, though there is no assurance a binding agreement will be reached, and the company shareholders are not required to take any action, the filing added.
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