A private equity acquisition of AUB Group will not proceed after the parties agreed to terminate discussions.

As insuranceNEWS.com.au has reported, Swedish firm EQT partnered with CVC Asia-Pacific on a joint bid for the giant listed insurance group, valued at more than $5 billion.

But AUB told the Australian Securities Exchange this morning that exclusive talks have collapsed.

“The consortium has advised AUB that it does not intend to proceed with a binding proposal at a price of $45 per share,” the statement said.

“Accordingly, the parties have agreed to terminate discussions.

“The AUB board believes that a price of $45 per share appropriately values AUB in the current market environment.”

MD and CEO Mike Emmett says AUB “continues to deliver robust performance" underpinned by a clear strategy.

“The recent due diligence process, while demanding, has reaffirmed our confidence in our improvement initiatives and long-term growth prospects,” he said.

“Now that discussions with the consortium have ended, our board and management team are fully focused on advancing our portfolio of organic growth initiatives and acquisition opportunities. 

“We remain confident in AUB Group’s forecast FY26 financial performance and see significant opportunities to grow profits in FY27 and beyond.”

AUB reaffirmed its FY26 guidance for underlying net profit after tax in the range of $215-$227 million.