Macquarie of Australia Offers $7.5 Billion for Qube Logistics Group
Qube Holdings Buyout Bid: Qube Holdings received an A$11.6 billion buyout offer from Macquarie Asset Management, leading to a significant surge in its share price, which hit an all-time high of A$4.890.
Details of the Offer: The cash offer of A$5.20 per share represents a 27.8% premium over Qube's previous closing price, and this is MAM's second attempt to acquire the company, with exclusive due diligence granted to them.
Market Context: The proposed deal, if completed, would be the largest in Australia this year, amidst a surge in deal activity driven by lower interest rates and increased foreign interest in Australian assets.
Future Considerations: The deal is contingent on regulatory approvals and due diligence, with Qube's directors recommending the offer to shareholders, while analysts suggest the possibility of competing bids from other buyers.
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