Australia’s largest provider of integrated import and export logistics services will entertain a takeover bid from Macquarie Asset Management after it submitted a conditional, non-binding and indicative proposal to acquire all of the shares on issue from Qube.
The cash offer of $5.20 per share is an increase from an earlier unsolicited bid according to Qube.
It reportedly represents a 27.8 per cent premium to Qube’s closing share price on Friday.
On 23 November 2025, Qube and Macquarie entered into a process and exclusivity deed in relation to the proposal.
The proposal price of $5.20 cash per share implies an enterprise valuation of approximately $11.6 billion.
The Process Deed grants Macquarie a period of exclusive due diligence access from the date of the deed until 1 February 2026.
“The Proposal from Macquarie Asset Management is a reflection of the strength of Qube’s business model and our assets, and the quality of our people and culture,” said Qube Chairman, John Bevan.
“We look forward to continuing to engage constructively in the best interests of our shareholders.”
While there is no certainty the proposal will lead to a binding proposal for consideration by Qube shareholders, Qube said it will update shareholders in relation to the proposal in due course.
Macquarie Asset Management is the world’s biggest infrastructure asset manager and a top 50 global asset manager, managing more than $735.5 billion in assets.
Major shareholders include institutional investors like State Street Global Advisors, BlackRock, and The Vanguard Group, Geode Capital Management Argo Investments and Commonwealth Superannuation Corp.
