Australia’s Qube Holdings’ shares jump 20% as Macquarie proposes $7.5 billion takeover deal

Australia’s Qube Holdings announced on Monday that Macquarie Asset Management has submitted a non-binding offer to buy the logistics company at an enterprise value of 11.6 billion Australian dollars ($7.49 billion).

owned by Macquarie offered acquired Qube for AU$5.2 per share in cash; This represents a premium of around 28% to Qube’s closing level of AU$4.07 on Friday.

Qube shares rose nearly 20% to A$4.87 in early trading on Monday.

Qube said in its filing that the takeover bid followed a period of negotiations after a lower unsolicited offer from Macquarie asset management, without specifying the exact value of the previous offer.

The enterprise value represents approximately 14.4 times Qube’s fiscal 2025 EBITDA, according to the filing. Enterprise value is generally measures the total value of a companyIncluding market value and the cost of servicing debt minus cash.

Qube’s operations mostly include container rental, car and grain cargo terminals, and road and rail transportation services.

The deal is subject to “satisfactory completion” of due diligence on Qube and its operations, final approval from both companies’ boards, and regulatory approvals.

Qube Chairman John Bevan said in the filing: “Macquarie Asset Management’s Offer is a reflection of Qube’s business model and the strength of our assets, the quality of our people and our culture. We look forward to continuing to work constructively in the best interests of our shareholders.”