Shares of Australia’s Qube Holdings jumped to a record high Monday after the ports and logistics company agreed to be taken over by a consortium led by Macquarie Asset Management at an enterprise value of about $11.7 billion Australian dollars ($8.26 billion).
Qube Holdings
jumped 3.6% to over $5 Australian dollars.
The offer represents a 27.8% premium to Qube’s last closing price of AU$4.07 on Nov. 21, the final trading day before the company announced it had entered an exclusivity process for the deal, Qube said in a statement.
The deal is structured as an all-cash offer of A$5.20 per share for public shareholders, other than UniSuper which holds about 15% of Qube and will roll its stake into a new holding structure.
