$6.36bn bid for Asciano tabled

$6.36bn bid for Asciano tabled

Logistics company Qube has made a bid for Australian port and logistics firm Asciano, valuing the company at more than A$9bn ($6.36bn).

Qube is making the bid with partners Global Infrastructure Partners and Canada Pension Plan Investment. The offer, Qube says, is superior to an earlier bid for Asciano from Brookfield Infrastructure.

Asciano’s chairman Malcolm Broomhead said the board was looking into the Qube proposal.

Asciano is an Australian freight logistics company, operating in railway freight and shipping. It demerged from Toll Holdings in 2007, and owns Patrick Corporation and Pacific National as subsidiary companies.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts