Australia's Asciano says to let Qube conduct due diligence after takeover approach

November 16, 2015 3:47 AM

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SYDNEY Nov 16 Australian rail and ports giant Asciano Ltd said it allow rival Qube Holdings Ltd to conduct due diligence after making an informal $6.3 billion takeover offer, in a potential blow to suitor Brookfield Asset Management Inc.

In a statement, Asciano said its board has "decided to grant the Qube Consortium access to confirmatory due diligence, subject to the agreement of appropriate confidentiality arrangements".

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