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Macquarie makes an offer to purchase Qube Holdings for $7.49 billion

Qube Holdings announced on Monday that Macquarie Asset Management (a Macquarie unit) submitted a nonbinding proposal for the acquisition of all shares of Qube. The logistics firm was valued at A$11,6 billion ($7,49 billion), debt included.

Qube reported that the offer of A$5.20 per share in cash represents a premium of 27.8% over Qube's Friday closing price of A$4.07. The negotiations followed a lower uninvited offer.

This proposal highlights Qube's strong assets and operations. Qube Chairman John Bevan said that they would work to achieve the best possible outcome for their shareholders.

Macquarie Asset Management has been granted an exclusive agreement by the board of Qube. Qube is Australia's leading integrated provider of import-export logistics. The exclusivity period will last until February 1, 2026.

If Qube declares future dividends, the offer price may be adjusted.

The agreement is subject to regulatory approvals and the successful completion of an implementation scheme agreement.

(source: Reuters)