The Macquarie Group Ltd. logo is displayed on the facade of the Macquarie Group Building in Sydney, Australia, on Friday, April 27, 2012.
Ian Waldie | Bloomberg via Getty Images
Shares of Australia’s Qube Holdings jumped to a record high Monday after the ports and logistics company agreed to be taken over by a consortium led by Macquarie Asset Management at an enterprise value of about $11.7 billion Australian dollars ($8.26 billion).
The offer represents a 27.8% premium to Qube’s last closing price of A$4.07 on Nov. 21, the final trading day before the company announced it had entered an exclusivity process for the deal, Qube said in a statement.
Qube Chairman John Bevan said the offer reflects the company’s strong position as a logistics provider across Australia and New Zealand and its growth prospects.
The transaction is subject to regulatory approvals, including from Australia’s Foreign Investment Review Board, the Australian Competition & Consumer Commission, New Zealand’s Overseas Investment Office and Papua New Guinea’s competition regulator.