EQT Offers to Buy Australia Insurer AUB in $3.4 Billion Deal (2)

Swedish private equity firm EQT AB made a A$5.2 billion ($3.4 billion) takeover offer for Australian insurance broker AUB Group Ltd., as the nation attracts increasing attention from foreign buyers amid a wealth and pension sector boom. AUB’s stock surged.

EQT has access to AUB’s books after making the unsolicited cash offer of A$45 per share, according to a statement from the Sydney-based firm on Tuesday. AUB said there’s no guarantee the offer will result in a transaction. The potential deal is about a 25% premium to AUB’s closing share price on Monday.

AUB’s business encompasses insurance brokers and ...