Australia's Asciano says considering Brookfield's $7 bln approach

Tue Jun 30, 2015 8:57pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

SYDNEY, July 1 (Reuters) - Australian freight company Asciano Ltd said on Wednesday that it was in discussions with Canada's Brookfield Infrastructure Group after the Canadian firm made an informal approach to buy it for A$8.8 billion ($6.78 billion).

Brookfield made an indicative, non-binding and conditional proposal to buy all Asciano's shares for A$9.05 per share, Asciano said in a statement.

The proposed offer represents a 36 percent premium to Asciano's closing price of A$6.65 on Tuesday.

($1 = 1.2974 Australian dollars) (Reporting by Byron Kaye; Editing by Biju Dwarakanath)