Qube Holdings has accepted an $11.7 billion deal with Macquarie Asset Management (MAM), that would see it delisted from the ASX and under private ownership.
A consortium led by MAM has agreed to acquire 100 per cent of the shares in Qube through a scheme of arrangement.
Subject to approval of the Scheme, Qube shareholders will receive $5.20 cash per share, reduced by the cash amount of any dividends declared or paid by Qube prior to the Scheme becoming effective.
It would also see UniSuper transfer its existing direct interest of 15.07 per cent in Qube at equivalent value for a corresponding interest in the holding structure of the Consortium.
The Qube Board has unanimously recommended that Qube Shareholders vote in favour of the scheme.
Qube Chairman John Bevan said, “The Qube Board of Directors has carefully considered the terms of the proposal and is unanimous in its recommendation to Qube shareholders.
“The scheme consideration represents a significant premium to the share price prior to announcement. It reflects the strength of the business today and the strong growth prospects Qube enjoys as a leading logistics provider across Australia, New Zealand and the region.”
Qube Managing Director, Paul Digney, added, “MAM’s offer underscores the value that has been created through our strategy for growth, the quality of our business, leadership team and people and the strength of our safety culture.
“Since inception, Qube has achieved significant growth and diversification across markets and geographies. I am confident that this transaction will provide the platform for the business to continue that evolution while maintaining our strong track record of enhancing supply chains and delivering outstanding customer service.”
The Scheme is subject to approval by Qube shareholders at the Scheme meeting, expected to take place around June 2026.