$9 billion on offer for Asciano

Australia’s biggest rail and ports company, Asciano, has been targeted by Canada’s Brookfield Infrastructure in a bid worth $9 billion.

If the deal goes ahead, it will be the biggest takeover in Australia since Fosters was acquired  by SABMiller for $12.3 billion in 2011.

Yesterday, Asciano revealed it had received a confidential, indicative, non-binding and conditional offer from Canada's Brookfield Infrastructure Group on June 26.

Brookfield said it was willing to pay $9.05 a share for Asciano.

Asciano says discussions are at a very early stage, adding that there is no certainty that the proposal will result in an offer.

Brookfield is a Toronto-based asset manager with $17 billion worth of assets under management in Asia and Australia.

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