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.