{"id":9688,"date":"2016-02-16T12:03:00","date_gmt":"2016-02-16T12:03:00","guid":{"rendered":"https:\/\/portstrategy.nfdtesting.uk\/greenport\/2016\/02\/16\/asciano-dumps-brookfield-for-qube\/"},"modified":"2026-08-27T14:53:23","modified_gmt":"2026-08-27T13:53:23","slug":"asciano-dumps-brookfield-for-qube","status":"publish","type":"post","link":"https:\/\/www.portstrategy.com\/greenport\/news\/oceania\/asciano-dumps-brookfield-for-qube\/","title":{"rendered":"Asciano dumps Brookfield for Qube"},"content":{"rendered":"<p>The Canadian company was given five days to up its A$8.9m ($6.36m) offer to match Qube\u2019s A$9m ($6.44m) but failed to respond in the timescales.<\/p>\n<p>A statement issued by Asciano said: \u201cThe Asciano board has considered the Qube Consortium proposal and the Brookfield offer and unanimously recommends the Qube Consortium proposal to Asciano shareholders.\u201d<\/p>\n<p>\u201cThe Brookfield bid will now be terminated,\u201d it adds.<\/p>\n<p>Asciano will now be liable for a break fee of A$88m to be paid to Brookfield Infrastructure.<\/p>\n<p>Last summer, Asciano directors recommended shareholders accept Brookfield\u2019s offer of A$9.15 per share, which would have led to the largest buyout by a Canadian firm in Australia.<\/p>\n<p>But Australian logistics company, Qube Holdings, formed its own consortium with Global Infrastructure Partners, Canada Pension Plan Investment Board and CIC Capital Corporation to table a rival bid. The group acquired a nearly 20% stake in the company then offered to buy the rest for A$9.25 a share.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australian freight logistics company, Asciano, has formally rejected a takeover offer by Canada\u2019s Brookfield Asset Management Inc. after it failed to match a higher bid from Asciano\u2019s rival Qube Holdings Ltd.<\/p>\n","protected":false},"author":8,"featured_media":9689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[55],"tags":[],"sponsor":[],"class_list":["post-9688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oceania"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/9688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/comments?post=9688"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/9688\/revisions"}],"predecessor-version":[{"id":9690,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/9688\/revisions\/9690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media\/9689"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media?parent=9688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/categories?post=9688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/tags?post=9688"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/sponsor?post=9688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}