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The offer of A$5.20 cash per share represents a 27.8% premium to Qube’s closing price of A$4.07 on Friday, and follows negotiations after a lower unsolicited offer, Qube said.

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“This proposal highlights the strength of Qube’s assets and operations. We will work constructively to ensure the best outcome for our shareholders,” Qube Chairman John Bevan stated.

The board of Qube, Australia’s largest integrated provider of import and export logistics, has signed an exclusivity agreement granting Macquarie Asset Management a due diligence period until February 1, 2026.

The offer price will be adjusted if Qube declares any future dividends.

The deal is subject to due diligence, regulatory approvals, and satisfactory completion of a scheme implementation agreement.

($1 = 1.5477 Australian dollars)

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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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