Brookfield Infrastructure, Qube investor groups consider joint bid for Asciano
February 24, 2016
Two investor groups respectively led by Brookfield Infrastructure Partners and logistics company Qube (ASX: QUB) are in preliminary discussions for a joint offer to acquire Australian rail and ports operator Asciano (ASX: AIO). The consortiums had previously submitted competing offers for the company: the Brookfield group announced an agreement last August to acquire Asciano for about A$9.15 per share, and Qube responded with a bid of A$9.17 per share in January along with co-investors CIC Capital, Global Infrastructure Management and the Canada Pension Plan Investment Board. The new joint proposal would offer A$9.28 per Asciano share, valuing the company at about A$9 billion ($6.5 billion).