Tuesday, 16 February, 2016 - 09:58
Asciano recommends Qube offer
Takeover target Asciano has recommended shareholders accept a $9.01 billion offer from a consortium led by QUBE Holdings after failing to attract a rival matching bid.
Qube Holdings Ltd (ASX: QUB) is an Australian diversified logistics and infrastructure company. It was founded in 2010 after the investment trust KFM Diversified Infrastructure and Logistics Fund acquired Kaplan Equity and became a standard operating company, rebranded as Qube Logistics. Kaplan Equity part-owned P&O Automotive and General Stevedoring and P&O Trans Australia.
Qube acquired outright control and majority ownership of P&O Trans Australia in April 2011.
Rank | Company | 1 Yr | 5 Yr |
---|---|---|---|
355th | Downer EDI | 39.96% | -3.65% |
356th | Centuria Capital Group | 39.95% | 3.4% |
357th | QUBE Holdings | 39.69% | 6.29% |
358th | Origin Energy | 39.59% | 9.9% |
359th | Perseus Mining | 39.56% | 26.45% |
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Takeover target Asciano has recommended shareholders accept a $9.01 billion offer from a consortium led by QUBE Holdings after failing to attract a rival matching bid.
Rival bidders for rail and ports giant Asciano are considering making a joint, all-cash $9.05 billion bid in an effort to seal the long-running takeover battle.
Takeover target Asciano has lifted its first-half profit on the back of strong coal haulage volumes but warns its earnings for the full-year could still be flat.
BC Iron is cutting more workers and contractors at its Nullagine project after its joint venture partner Fortescue Metals Group decided to not buy low-grade iron ore stockpiled at the mine.
The Pacific National rail business and the Patrick container terminal business are set to come under new ownership after Asciano agreed to a $9.05 billion takeover deal that is designed to sidestep regulatory concerns.
Logistics firm QUBE Holdings has raised $250 million through a rights share placement to institutional investors as part of its fund raising related to the Asciano acquisition.
Brockman Mining is set to defy the gloom in the iron ore market, announcing plans to develop its Maverick project in the Pilbara, with trucking group QUBE Holdings signed up to transport the ore to port.
The competition regulator has flagged a fresh review of the $9.05 billion takeover of rail and ports giant Asciano and is examining whether the new cross-ownership deal will lead to any common financial interest among the suitors.
A $9.05 billion foreign takeover of rail and ports giant Asciano will be delayed because of the federal election.
The competition watchdog has further delayed its decision on the $9 billion takeover of rail and ports giant Asciano, after receiving complaints that the deal would reduce competition in the container logistics business.
Women are being appointed to ASX200 boards at a faster rate than ever, but a number of major Western Australian companies remain without any female representation on their boards.
Rail and ports operator Asciano will sell its 50 per cent stake in the ACFS port logistics business to its joint venture partner in an effort to remove the overhang on its $9.05 billion takeover.
The competition watchdog has waved through a $9 billion takeover of rail and ports giant Asciano, and approved Metcash's bid for Woolworths' Home Timber and Hardware business.
Failed fertiliser supplier Superfert Dongbu has gone into liquidation, 18 months after it had been put into voluntary administration.
Stevedoring industry veteran Chris Corrigan has announced he will retire as chairman of QUBE Holdings, saying the time is right as the logistics group enters a new phase.
More than $8 billion of greenfields iron ore projects are either proposed or in development, while $450 million of brownfields work is under way as the state’s miners plan investments to maintain production.
Mount Gibson Iron will spend nearly $100 million on the redevelopment of its Koolan Island iron ore mine, with the company’s board giving the green light to bring the operation out of care and maintenance.
Three contractors have won work for Altura Mining’s planned $140 million Pilgangoora lithium mine, as the company continues work to secure debt financing for the project.
The value of a strong team in a crisis was highlighted by mining chief David Flanagan during his recent discussion with Business News.
The Pilbara Ports Authority has short-listed two specialist logistics companies for the development of new general cargo facilities at Port Hedland.
Primero Group has been selected as the preferred engineering, procurement and construction contractor for Adelaide-based Core Lithium’s $53 million Finniss project near Darwin.
SPECIAL REPORT: WA will be waiting until at least 2030 before an outer harbour development is needed, and in the meantime work is being done to evaluate the best ways to extend the life of Fremantle Port.
SPECIAL REPORT: WA could be about 1,000 truck drivers short at a time the industry believes there are signs of an upswing.
Intermodal Group has announced a strategic partnership with QUBE Holdings in Western Australia, as the North Quay Rail Terminal (NQRT) goes up for tender.
The state government is making solid progress on its congestion busting, industry boosting infrastructure rollout.
Georgiou Group has secured $141 million worth of contracts across Australia in recent days, announcing it had been awarded major contracts in NSW and Queensland just one day after being named the preferred proponent for the City of Perth’s east end revitalisation project.
Businesses in the Pilbara will soon have better access to international supply chains after shipping company Sea Swift announced a regular, scheduled service between Singapore and Dampier.
Chemical manufacturer Coogee and infrastructure giant QUBE Holdings have secured grants from the federal government to develop diesel storage projects in Western Australia.
Strike action at Fremantle Port has been temporarily suspended following a move this morning by the federal government to intervene, it is understood.
Qube has been ordered by the Fair Work Commission to reinstate and back pay six workers who were asked to cross a picket line amid protected industrial action taken by the MUA.
QUBE has sought an appeal with the Fair Work Commission after it ordered the logistics company to reinstate and back pay six workers dismissed in mid-2021.
Qube has vowed to defend a $15.5 million lawsuit it’s facing at the hands of the maritime union over claims it unlawfully docked the wages of up to 1,000 stevedores.
The lithium hopeful has recruited Qube Holdings to transport spodumene concentrate from Kathleen Valley to the Port of Geraldton ahead of anticipated first production in mid-2024.
The $40 million-plus sale of the family-owned business marks the third major M&A deal involving a logistics company at Fremantle harbour in recent years.
Claire Tyrrell and Nadia Budihardjo discuss cutting-edge vet school technology in use in Western Australia.
The fallout from BHP mothballing its Nickel West operations has had a ripple effect through engineering and haulage contractors, fellow miners, airlines and power suppliers.
A Western Australian transport company has been sold for $119 million to the nation’s largest logistics firm, Qube Holdings.
Work at the state's biggest container port is expected to slow to a crawl in the coming weeks after Qube Ports customers were told a series of industrial actions would start from tonight.
Chicago food business ADM exported its first faba bean bulk cargo out of Esperance on the weekend, and used a loading system usually engaged by the resources industry.
One of Australia’s largest trucking companies has boosted its toehold in Western Australia via the acquisition of a Donnybrook freight company and construction of a Perth logistics hub.
Industrial assets across Perth have become increasingly sought after, with plunging vacancies expected to accelerate sales activity throughout 2019.
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