Canada's Brookfield to buy freight firm Asciano for $8.84 bln

Mon Aug 17, 2015 8:49am EDT
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Aug 17 (Reuters) - Canada's Brookfield Infrastructure said it will buy Australia's rail freight firm Asciano Ltd for about A$12 billion ($8.84 billion).

Asciano shareholders will receive A$6.94 in cash and A$2.21 in Brookfield Infrastructure Ltd Partnership units for every share held, which works out to A$9.15, Brookfield said on Monday.

The offer is a 13 percent premium to Asciano's last traded price of A$8.11. Asciano requested a trading halt on Monday. ($1 = 1.35 Australian dollars) (Reporting by Sneha Banerjee in Bengaluru; Editing by Sriraj Kalluvila)