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EQT receives takeover proposal of $24.75 per share
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EQT receives takeover proposal of $24.75 per share

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  • BGH Capital submitted an unsolicited, indicative, and non-binding proposal to acquire 100% of EQT for $24.75 cash per share.
  • The proposal follows a recent rival bid from TPG and represents a premium over previous trading levels.
  • The board of EQT intends to evaluate the proposal alongside its advisers while the company continues normal business operations.

EQT Holdings (ASX:EQT) announced it has received an unsolicited and non-binding takeover proposal from BGH Capital offering $24.75 cash per share.

This development follows an earlier indicative bid submitted by rival firm TPG Global earlier in the week.

"The board of EQT, together with its advisers, will evaluate the BGH Proposal and will update shareholders in due course," said EQT Holdings Managing Director and Director Michael O'Brien.

The proposal is subject to several conditions, including due diligence, regulatory clearances, and a final scheme implementation deed, with BGH not requesting exclusivity.

Following the announcement, the EQT Holdings share price was up at $22.01.

The target company was established in 1888 to provide independent trustee and executor services to Australian families.

The current corporate approach adds to a series of recent portfolio reviews and strategic decisions managed by the board.

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