Australian ports and rail giant Asciano Ltd (AIO.AX) formally dumped an A$8.9 billion ($6.4 billion) buyout from Canada’s Brookfield Asset Management Inc (BAMa.TO) after it failed to match a higher offer from local rival Qube Holdings Ltd (QUB.AX). In a statement on Tuesday, Asciano said that after giving the Canadian infrastructure investor five days to match a A$9 billion rival approach from locally listed Qube, Brookfield did not front up with a better offer. “The Brookfield bid will now be terminated,” the statement said, adding that Asciano has now signed binding sale documents with Qube.
Source: Reuters.comAustralia’s Asciano bins $6.4 bln Brookfield bid it had endorsed
Industry: Transport 2016-02-16
