Macquarie Asset Offers $7.5 Billion for Logistics Firm Qube [Yahoo! Finance Canada]
MACQUARIE GROUP LTD S/ADR (MQBKY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance Canada
deal valuing the Australian logistics and shipping-containers company at A$11.6 billion ($7.5 billion). Qube investors would receive A$5.20 in cash for each share, 28% more than Friday's close, the company said Monday. Qube agreed to allow Macquarie Asset Management to carry out exclusive due diligence. Most Read from Bloomberg Qube shares jumped 17% to A$4.76 in early trading in Sydney, well short of the offer price, reflecting uncertainty that any acquisition will be completed. Qube directors will unanimously recommend shareholders vote for a deal — as long as Macquarie Asset Management produces a binding bid of at least A$5.20. Qube's operations span container leasing, car and grain cargo terminals, and road and rail transport services. The company's shares have soared from a low of A$1.79 in March 2020. According to Qube, the takeover bid follows an earlier proposal from Macquarie Asset Management and a period of negotiation. Qube didn't specify the value of the previous
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