Nvidia set to lose $180 billion in market value today as Meta weighs Google chips
Updates with share moves at 02:16 GMT
Investing.com-- Shares of Qube Holdings (ASX:QUB) reached record highs on Monday after the Australian logistics group said it has entered into an exclusivity deed with Macquarie Asset Management after receiving a non-binding takeover proposal.
Macquarie unit’s (ASX:MQG) A$5.20 per share offer would value Qube at about A$11.6 billion ($7.5 billion) and represents a 27.8% premium to the company’s last closing price of A$4.07 on Nov. 21.
Sydney-listed Qube shares surged as much as 20.1% to A$4.89 as of 02:16 GMT, reaching their highest level ever.
The offer follows an earlier, lower bid from Macquarie, which was raised after Qube provided limited due diligence information.
Qube said its board agreed to grant Macquarie a period of exclusive due diligence until Feb. 1, 2026, and directors intend to unanimously recommend the scheme in the absence of a superior proposal.
The proposal remains subject to several conditions, including the completion of due diligence, board approvals, and regulatory clearance from Australia’s foreign investment and competition authorities.
Qube said there is no certainty that the talks will lead to a binding offer.