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.