Qube Holdings shares after Macquarie $8.3 billion takeover deal
Macquarie Group Ltd. logo is displayed on the facade of the Macquarie Group Building in Sydney, Australia, on Friday, April 27, 2012.
Ian Waldie | Bloomberg via Getty Images
australian shares Qube Holdings It soared to a record high on Monday after the ports and logistics company agreed to be taken over by a consortium led by Macquarie Asset Management for an enterprise value of about 11.7 billion Australian dollars ($8.26 billion).
The offer represents a 27.8% premium to Qube’s last closing price of AU$4.07 on November 21, the last trading day before the company announced it was entering an exclusivity period for the deal. he said in a statement.
Qube Chairman John Bevan said the offer reflected the company’s strong position and growth prospects as a logistics provider in Australia and New Zealand.
The transaction is subject to approvals from regulatory authorities, including the Australian Foreign Investment Review Board, the Australian Competition and Consumer Commission, the New Zealand Overseas Investment Office and Papua New Guinea’s competition regulator.
