Deals
Brookfield, Qube Join Forces in A$9.1 Billion Asciano Bid
- Deal ends months of dueling for Australian rail, port operator
- Groups plan to carve up assets to avoid competition concerns
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Former rival groups led by Brookfield Asset Management Inc. and Qube Holdings Ltd. joined forces to buy Asciano Ltd. in a deal valuing the Australian port and rail operator at A$9.05 billion ($6.8 billion).
The two groups made a joint cash offer of A$9.28 per share, according to a statement to the ASX on Tuesday. That’s 4.6 percent higher than the target’s closing price on Monday. The deal is unanimously recommended by Asciano’s board.