Deals
Brookfield Infrastructure Buys Asciano in $6.55 Billion Deal
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Brookfield Asset Management Inc., Canada’s largest alternative asset manager, led a group that agreed to pay A$8.9 billion ($6.55 billion) in cash and stock for Asciano Ltd., the Australian rail and port operator.
Brookfield will buy Asciano through its publicly traded subsidiary Brookfield Infrastructure Partners for A$6.94 a share in cash and 0.0387 Brookfield Infrastructure units, the company said in a statement Monday. The offer has an implied value of about A$9.15 a share, or 38 percent more than Asciano’s price on June 30, a day before it disclosed talks with Brookfield. Asciano also plans to pay a special dividend of A$0.90 a share before the implementation date