AUB Takeover Bid Collapses as Board Backs Its Long-term Growth Story

After more than a month of due diligence, AUB Group is back on its own, and its share price is paying the price in the short term. Private equity giants EQT and CVC Capital Partners have walked away from a $45-a-share proposal that would have valued the insurance broker at more than $5 billion. AUB's shares promptly slumped more than 17 per cent to around $30.70.

But while the market reaction looks brutal, the strategic message from the board, and several long-term shareholders, is far more bullish. The collapsed talks are being framed not as. . .