Brookfield Makes A$8.8 Billion Takeover Offer for Asciano

Brookfield Infrastructure Group offered A$8.8 billion ($6.8 billion) in cash and stock for Australian transport company Asciano Ltd.

Brookfield offered to acquire Melbourne-based Asciano for A$9.05 per share, according to a statement to the ASX Wednesday, 36 percent more than Tuesday’s closing price.

Asciano’s board will hold exclusive talks with Brookfield to progress the proposal, according to the statement.

Link to Statement:Link