Aus­tralian rail and port bid­ding war ends

China Daily (Canada) - - BUSINESS -

The long-run­ning bid­ding war for As­ciano Ltd has ended af­ter Qube Hold­ings Ltd an­nounced a joint A$9.1 bil­lion ($6.81 bil­lion) bid with Canada’s Brook­field As­set Man­age­ment Inc for Aus­tralia’s largest rail and port op­er­a­tor. Qube, in a state­ment to the ASX on Tues­day, said it has ter­mi­nated its stand­alone bid with its con­sor­tium part­ners, in­stead ac­quir­ing As­ciano’s Pa­trick Con­tainer Ter­mi­nals busi­ness in a joint ven­ture with Brook­field.

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