1 Min Read
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