A standout deal down under in 2025 was the $11.6b takeover proposal for Qube Holdings from Macquarie Asset Management. Macquarie offered Qube shareholders $5.20 per share in cash, roughly a 28% premium to the stock’s price prior to the bid, valuing the logistics and infrastructure operator at about $11.6b including debt.
Jamie Hannah, Deputy Head of Investments and Capital Markets at VanEck and a shareholder in Qube, said the offer was reasonable but that the group had not yet decided whether to accept it. He also highlighted the strong demand for quality infrastructure companies in public markets, noting that if Qube is taken private it would remove another scarce, high-quality asset from the ASX, further limiting choice for long-term investors and reinforcing how aggressively private capital is absorbing Australia’s best infrastructure names.
The announcement sent Qube shares to record highs, underlining strong demand for high-quality infrastructure assets and a broader consolidation theme in Australian markets. Qube’s board has granted Macquarie an exclusivity period to complete due diligence and is expected to recommend the offer in the absence of a superior bid, though regulatory approval and other conditions still need to be satisfied.
