Australia's AUB shares plunge as EQT, CVC abandon $3.44 billion takeover offer

Reuters12-01

Dec 1 (Reuters) - AUB Group AUB.AX said on Monday its suitors EQT EQTAB.ST and CVC Asia Pacific had walked away from takeover talks that valued the Australian insurance broker at A$5.25 billion ($3.44 billion), sending its shares more than 17% lower.

The Sydney-based firm's shares plunged 17.1% by 2338 GMT to A$30.91, heading for their weakest session since late January 2015.

($1 = 1.5272 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru; Editing by Subhranshu Sahu)

((tanishk.Kumar@thomsonreuters.com; X: @thatstanishk))

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