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Equity Trustees makes play for fund manager

Equity Trustees Limited has put forward a preliminary proposal to acquire listed fund manager, super trustee and insurance firm Diversa.

In a statement to the ASX, Diversa confirmed that it received an “unsolicited, confidential, non-binding, indicative proposal” from EQT regarding a possible acquisition.

According to a statement issued by EQT, the company considers a range of potential acquisitions “from time to time”.

However, “there have been no significant developments since providing the proposal and no contractual arrangements have been entered into,” the statement said.

“As part of these considerations, EQT enters into preliminary discussions with various entities and often determines an indicative value based on publicly available information,” said EQT.

In its statement, Diversa reinforced that it has not entered into any arrangements, binding or otherwise, with EQT.