Shares of Australian industrial logistics group Qube Holdings hit an all-time high after the company said it received a buyout bid from Macquarie Asset Management (MAM) valued at A$11.6 billion ($7.5 billion), according to Reuters. Qube shares surged as much as 19.7% to reach a record A$4.89, closing at A$4.86, compared with a 1.3% rise in the benchmark stock index. The cash offer of A$5.20 per share represents a 27.8% premium to Qube’s closing price on the previous Friday.
Qube said the offer is the second attempt by MAM to acquire the company. In addition, the offer will allow Macquarie to conduct exclusive due diligence. MAM declined to comment.
Qube, Australia’s largest integrated provider of import and export logistics, owns ports, intermodal terminals, and bulk handling facilities across the country. The bid values Qube at A$11.6 billion, including approximately A$2.3 billion in debt.
So far in 2025, $72.67 billion worth of deals have been announced in Australia, the most in three years. If completed, the Qube acquisition would be the largest deal in Australia this year. Lawyers and advisors attribute the increased deal activity to prospects of lower interest rates. Also, there is a renewed interest from foreign buyers in Australian assets.
The transaction is subject to regulatory approvals, due diligence. Moreover, Qube delivering a binding offer during the exclusivity period, which ends on February 1, 2026.
Management Support and Shareholder Recommendation
Qube Chairman John Bevan said, “This proposal highlights the strength of Qube’s assets and operations.” Each Qube director confirmed they would recommend shareholders vote in favor of the potential transaction, assuming no superior proposal arises, and subject to an independent expert review.
Potential Competing Bidders
Ord Minnett analysts noted that another bidder could emerge, given recent global corporate activity by shipping lines and growing interest from infrastructure funds in transport assets. If the deal proceeds, adjustments will be made to the A$5.20 per share offer to account for any future dividends paid by Qube.
