FOLLOWING a nine month takeover battle, the board of Australian transport and logistics company Asciano has formally entered into a sale agreement with a consortium of Qube, Brookfield and several institutional investors for $A 9.28 ($US 6.93) cash per share.
DESPITE uncertainty over a possible takeover, revenue and profit at transport and logistics group Asciano, parent company of Australian rail freight operator Pacific National (PN), remained relatively stable for the half year to December 31 2015.
A consortium led by Australian logistics company Qube Holdings has mounted a rival $A 9bn ($US 6.32bn) bid for Australian rail and port operator Asciano, which holds Australia's second largest railfreight operator Pacific National, and appeared poised to sell to Canadian asset management company Brookfield Holdings.
THE board of Australian logistics group Asciano has recommended that shareholders accept a bid from Brookfield Infrastructure Partners for 100% of the company, which includes Pacific National, Australia's second largest railfreight operator.
ANNOUNCING financial and operating results for the first half of its 2013-2014 financial year, Australian rail and port operator Asciano, the parent company of the PN Coal and PN Rail freight businesses, says it will undertake a major restructuring and reintegration of these two divisions from July 1.