Australia's EQT Holdings gets $472 million takeover proposal from BGH Capital

EQT Holdings

21/08/2026 01:37

Aug 21 (Reuters) - Australia's EQT Holdings EQT.AX said on Friday it had received a takeover proposal from BGH Capital Pty (BGH), valuing the investment manager at A$663.1 million ($471.93 million), its second takeover approach this week.

Here are some details: 
The proposal follows a A$657.8 million bid from U.S.-based brokerage TPG Global on Tuesday, which sent EQT shares to their biggest one-day gain in 41 years.
Under the proposal, BGH offered to acquire all EQT shares for A$24.75 in cash, less any dividends declared or paid.
The offer price represents a 22.4% premium to EQT's last close, and is slightly above TPG's A$24.55-per-share offer. 
BGH did not seek exclusivity to conduct due diligence, EQT said.
The takeover bids come as EQT navigates a broader business overhaul and regulatory scrutiny.
Earlier this week, EQT reaffirmed its plan to exit the independent superannuation trusteeship business through its Equity Trustees Superannuation unit.
EQT is also defending an Australian Securities and Investments Commission lawsuit alleging one of its units failed to obtain critical information about the now-defunct First Guardian Master Fund before approving member investments. 

     
     
($1 = 1.4051 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru; Editing by Sherry Jacob-Phillips)
 ((Sherin.Sunny@thomsonreuters.com;))