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(Sharecast News) - Shares in Qube Holdings surged on Monday, after Australian investor Macquarie Asset Management launched a near A$12bn takeover bid for the logistics specialist.
MAM is offering A$5.20 per share in cash for Qube after an earlier unsolicited approach was rejected.
The new, higher price is a 27.8% premium to Qube's closing share price on 21 November, giving the firm an enterprise value of A$11.6bn (5.7bn), including around A$2.3bn of debt.
The Sydney-listed stock soared to a record high in response, closing the session on Monday up 19%.
Qube chair John Bevan said: "The proposal is a reflection of the strength of [our] business model and our assets. We look forward to continuing to engage constructively in the best interests of our shareholders."
The deal remains subject to the satisfactory completion of due diligence, final approval from both companies' boards and regulatory backing.
MAM now has until exclusive due diligence access until 1 February 2026.
MAM, part of Macquarie Group, has yet to comment. It currently manages around A$960bn in assets worldwide, spread across both public and private markets and covering sectors including infrastructure, real estate and agriculture.
Qube is Australia's largest integrated provider of import and export logistics.
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