$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.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.