Whitehaven upgrades haulage contract

There are strong signs the Australian commodities cycle has bottomed, and a new investment phase may be about to begin.

Asciano has recommended a revised offer for its port and rail assets, which will be split up and sold to consortia involving Qube and seven infrastructure investors and pension funds.

Canada’s Brookfield Infrastructure Partners and Australia’s Qube, along consortium partners, look set to make a last minute joint offer of A$9.05B for Asciano.

After failing to receive a matching offer to Qube’s proposal, Asciano has advised its shareholders to reject Brookfield’s offer.

Asciano has deemed a revised offer from Qube to be superior to Brookfield’s earlier proposal, triggering a bidding war for the Australian port and rail operator.

A robust attitude by Western Australian rail network owner Brookfield Rail (BR) towards the state’s grain producers/handlers is having apparent consequences for parent Brookfield Infrastructure Partners, in its efforts to get regulatory clearance for its proposed takeover of Asciano.