Rivals Qube and Brookfield discuss joint Asciano bid

Rival companies Qube and Brookfield Infrastructure have begun talks over a joint AU$9bn (US$6.5bn) takeover of Asciano following a bidding war over the last few months.

Under the new plan, Australian company Qube would acquire the Patrick Container Terminals Business in 50/50 joint venture with Brookfield and other members of the Brookfield consortium for AU$2.9bn (US$2.1bn).

A Qube consortium including Global Infrastructure Partners (GIP), Canada Pension Plan Investment Board (CPPIB) and CIC Capital Corporation (CIC Capital) had been named Asciano’s preferred bid last week.