February 7, 2016 / 11:15 PM / a year ago

Australia's Qube raises Asciano approach to $6.4 bln, trumping Brookfield

1 Min Read

SYDNEY, Feb 8 (Reuters) - Australia's Qube Holdings Ltd said it raised its proposed takeover bid for port and rail operator Asciano Ltd to A$9 billion ($6.4 billion) and that the target prefers its approach to that of Brookfield Asset Management Inc.

In a statement to the Australian Securities Exchange on Monday, freight terminal operator Qube said its investment consortium lifted its cash and shares indicative offer for Asciano to A$9.24 per share, higher than both its previous A$9.17 approach and Canadian Brookfield's A$9.10.

"The Asciano Board has determined that the Qube Consortium's Revised Proposal is a superior proposal," Qube said. ($1 = 1.4142 Australian dollars) (Reporting by Byron Kaye; Editing by Eric Meijer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below