Asciano Deal Gets Up

The business world turns full circle with the return of Chris Corrigan to the Patrick stevedoring business. A joint deal, previewed a couple of weeks ago, will see both Qube and Canadian rail company, Brookfield, take part of the Asciano organisation, as part of a group buyout of the infrastructure enterprise.     The takeover of Asciano involves eight player in a complex deal to allay competition concerns. This will see the...

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McAleese Bail Out Possible

After coming close to the brink, McAleese may survive, if a bail out consortium gets up. Mark Rowsthorn, McAleese CEO, is reported to be developing a rescue plan for the ailing company, which has been hit by a number of unfortunate events in recent years.   The slow down in the resources industry has hit many quite hard and McAleese, with its involvement in heavy haulage and also fuel distribution was already on the back foot...

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Qube Bid Looking Good

A decision by the Australian Competition and Consumer Commission looks to have improved the chances of Qube taking over Asciano. The ACCC have rejected a proposal by Canadian Railway giant, Brookfield, to takeover the Asciano operation, citing concerns about the company‚Äôs long term behavioural undertakings.   The proposed sale for $9 billion would further reduce competition in the rail sector, where there is a small number of...

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