Shares of Australian logistics company Qube Holdings reached a record high after the group received an A$11.6 billion ($7.5 billion) acquisition proposal from Macquarie Asset Management. Qube’s stock jumped nearly 20%, reflecting strong market confidence in the offer.
Macquarie’s cash proposal of A$5.20 per share represents a 27.8% premium over Qube’s previous closing price. This marks Macquarie’s second attempt to acquire the company, and Qube has granted the firm exclusive due diligence access.
Qube operates a wide network of ports, intermodal terminals, and bulk handling sites across Australia, making it the country’s largest integrated import and export logistics provider. The offer values the company’s enterprise at A$11.6 billion, including A$2.3 billion in debt.
Australia has seen more than $72 billion in deals so far this year, supported by expectations of lower interest rates and rising interest from global investors. If completed, this would be the country’s biggest transaction of the year.
Qube’s board indicated that directors would recommend the deal to shareholders, provided no superior proposal emerges and subject to an independent expert review. Analysts also noted the possibility of rival bidders entering the race, given the strong global appetite for transport and infrastructure assets.
The proposal remains conditional on regulatory approvals, due diligence, and the submission of a binding offer before the exclusivity period ends on February 1, 2026. Any future dividends would be reflected in adjustments to the proposed A$5.20 price per share.
