By Stuart Condie
SYDNEY--Australian logistics operator Qube granted Macquarie Asset Management exclusive due diligence after the local asset manager proposed a US$7.5 billion takeover.
Qube on Monday said that MAM, a unit of ASX-listed Macquarie Group, submitted an all-cash proposal worth 5.20 Australian dollars, or US$3.36, a share. The proposal implied an enterprise value of about A$11.6 billion, Qube said.
Qube, which offers import and export services including road and rail transport, said the proposal followed an initial lower-value approach from MAM.
Qube's directors intend to unanimously recommend the proposal if it is formalized as a binding offer.
MAM has exclusive due diligence until Feb. 1.
"The proposal from Macquarie Asset Management is a reflection of the strength of Qube's business model and our assets, and the quality of our people and culture," Qube Chairman John Bevan said.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
November 23, 2025 17:16 ET (22:16 GMT)
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