By Adwitiya Srivastava
(Reuters) -Australia's Qube Holdings ( QUBHF ) entered into an exclusivity deed with a unit of Macquarie Group ( MCQEF ) on Monday after a non-binding takeover proposal that valued the logistics company at A$11.6 billion ($7.50 billion), including debt.
Shares of Qube ( QUBHF ), Australia's largest integrated provider of import and export logistics, surged as much as 19.7% to hit an all-time high of A$4.890, far outperforming a 1.1% gain in the benchmark stock index.
The cash offer of A$5.20 per share from Macquarie Asset Management (MAM) represents a 27.8% premium to Qube's ( QUBHF ) last closing price on Friday.
The deal is subject to conditions including regulatory approvals, due diligence, and Qube ( QUBHF ) delivering a binding scheme implementation agreement before the end of the exclusivity deed on February 1, 2026.
"This proposal highlights the strength of Qube's ( QUBHF ) assets and operations," Qube ( QUBHF ) Chairman John Bevan said in a statement.
Each of the Qube ( QUBHF ) directors confirmed they intended to unanimously recommend shareholders vote in favour of any scheme of arrangement for the potential transaction in the absence of a superior proposal and subject to an independent expert review, Qube ( QUBHF ) said.
Analyst at Ord Minnet Research see chances of incremental third-party interest in Qube ( QUBHF ), given recent global corporate activity by global shipping lines and increased interest in transport assets from global infrastructure funds.
Should the deal proceed, adjustments will apply to the A$5.20 per-share offer to account for any future dividends paid by Qube ( QUBHF ), the logistics company said.
($1 = 1.5470 Australian dollars)
(Reporting by Adwitiya Srivastava in Bengaluru; Editing by Edmund Klamann, Richard Chang and Subhranshu Sahu)