Asciano takeover on hold again

It looks as though the takeover of Asciano will have to wait another month at least, with the Australian Consumer and Competition Commission (ACCC) expected reveal new concerns about elements of the bid.

The joint takeover bid made by Brookfield, Qube and six international investment funds, which is worth $9.28 a share, has been recommended by the Asciano board. The move would see the port and rail group into three separate parts.

The ACCC apparently still has concerns about Qube’s position in the regional rail and container handling markets.

The saga continues…

You can see the Fairfax article on the situation here.