Macquarie Asset Management has renewed its interest in acquiring Qube Holdings, putting forward a fresh proposal that values the Australian logistics giant at approximately A$7.5 billion. The revised bid, announced Monday, marks an increased valuation from Macquarie’s earlier approach, which Qube previously declined.
According to people familiar with the discussions, the latest proposal remains non-binding and indicative, meaning it serves as an initial expression of interest rather than a finalized agreement. The enterprise value includes Qube’s outstanding debt and reflects Macquarie’s growing appetite for major infrastructure and transport assets.
The market reacted swiftly. Qube’s shares surged in early trading as investors weighed the potential of a renewed takeover battle and the higher implied valuation. Analysts noted that the price jump signals strong shareholder confidence that the revised bid may progress further than the earlier attempt.
Qube Holdings, widely viewed as Australia’s largest integrated ports and logistics operator, controls critical freight infrastructure across the country. For Macquarie, which manages some of the world’s largest infrastructure investment funds, the acquisition would represent a significant expansion of its Australian portfolio. Industry experts say Qube’s strategic importance-spanning port terminals, container handling, and nationwide transport services-makes it a highly attractive asset for long-term investors.
While the new proposal is under review, Qube’s board has not yet committed to any decision, and further negotiations are expected. The deal will hinge on detailed due diligence, valuation assessments, and potential regulatory considerations. For now, the possibility of one of the largest Australian logistics acquisitions in recent years remains open, keeping both markets and industry observers watching closely.
