By Matt Bell
Shares in Australia’s largest integrated provider of import and export logistics services have surged by nearly 20 per cent after Macquarie Asset Management made a $11.6 billion play for Qube.
Qube soared 17.7 per cent to $4.79 at 3.20pm AEDT after Macquarie’s asset management arm lobbed a $5.20-a-share indicative takeover offer for the group, which operates services from warehouses and ports to rail.
Wilson Asset Management senior investment analyst Hailey Kim said Macquarie Asset Management’s bid “highlighted the scarcity value of high-quality infrastructure assets and Qube’s dominant position as Australia’s largest vertically integrated import and export logistics provider”.
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