Australia’s Qube Holdings’ shares jump 20% as Macquarie proposes $7.5 billion takeover deal
The Macquarie Group Ltd. logo at the company’s headquarters in Sydney, Australia, on Wednesday, June 18, 2025.
Brent Lewin | Bloomberg | Getty Images
Australia’s Qube Holdings announced on Monday that Macquarie Asset Management had submitted a non-binding proposal to acquire the logistics company at an enterprise value of 11.6 billion Australian dollars ($7.49 billion).
Macquarie has offered to acquire Qube for AU$5.2 in cash per share, representing a nearly 28% premium to Qube’s closing level of AU$4.07 on Friday.
Qube shares jumped nearly 20% to AU$4.87 in early trading on Monday.
The takeover bid followed a period of negotiations after a lower unsolicited offer from Macquarie asset management earlier, Qube said in its filing, without specifying the exact value of the previous offer.
The enterprise value represents about 14.4 times Qube’s EBITDA for financial year 2025, according to the filing. Enterprise value typically measures a company’s total value, including its market capitalization and the cost to pay off its debt, minus cash.
Qube’s operations mostly involve container leasing, car and grain cargo terminals and road and rail transport services.
The deal is subject to a “satisfactory completion” of due diligence on Qube and its operations, final approval from both companies’ boards and regulatory approvals.
“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. We look forward to continuing to engage constructively in the best interests of our shareholders,” Qube Chairman John Bevan said in the filing.
