Further twists in Asciano sale

There’s been yet another twist on the ongoing debate around the sale of Asciano, with QUBE Holdings putting in a $9 billion takeover offer.

Brookfield (a Canadian company which had already put in an offer), now has five days to match the offer.

If the Asciano Board does go with the QUBE offer, it will have to pay Brookfield an $88million break fee.

All this comes amid a background of Pacific National (which is owned by Asciano) making large numbers of employees redundant, supposedly due to a ‘down-turn in the market’.

You can see the latest on the story here in the Australia Financial Review (note – the AFR is paywall protected)