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SYDNEY, Feb 8 (Reuters) - Australia's Qube Holdings Ltd (QUB)...

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    08/02/16
    10:12
    Post #: 16964438

    SYDNEY, Feb 8 (Reuters) - Australia's Qube Holdings Ltd (QUB) said it raised its proposed takeover bid for port and rail operator Asciano Ltd (AIO) to A$9 billion ($6.4 billion) and that the target prefers its approach to that of Brookfield Asset Management Inc BAMa.TO .

    In a statement to the Australian Securities Exchange on Monday, freight terminal operator Qube said its investment consortium lifted its cash and shares indicative offer for Asciano to A$9.24 per share, higher than both its previous A$9.17 approach and Canadian Brookfield's A$9.10.

    "The Asciano Board has determined that the Qube Consortium's Revised Proposal is a superior proposal," Qube said.

    ($1 = 1.4142 Australian dollars)

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