Australian industrial logistics firm Qube Holdings provided a statement on Monday disclosing that it has received an indicative all-cash takeover offer of A$5.20 per share from Macquarie Asset Management, representing a total enterprise value of approximately A$11.6 billion (including about A$2.3 billion in debt).

Shares in Qube surged as much as 19.7 per cent to A$4.89 before closing at A$4.86, significantly outperforming the country’s benchmark stock index.

The offer represents a premium of roughly 27.8 per cent over Qube’s closing share price on the preceding Friday.

In its announcement, Qube said the bid from Macquarie marks the asset-manager’s second approach to acquire the company, and that it has granted Macquarie an exclusivity period in order to carry out due diligence.

The proposal is contingent on regulatory approvals and subject to the absence of any superior offer.

Qube, which is Australia’s largest integrated provider of import-export logistics services — operating container terminals, intermodal rail, bulk-handling and port-side infrastructure — said that all its directors intend to recommend the transaction in the absence of a better proposal, subject to independent expert assessment.

Industry analysts noted that the deal, if consummated, would likely be the largest acquisition in Australia this year, embedded in a wave of heightened merger and acquisition activity in the logistics and infrastructure sectors.

The resurgence of dealmaking is being attributed to the prospect of lower interest rates and renewed interest from foreign buyers in Australian assets.

As part of the deal mechanics, Qube has indicated that the per-share price will be adjusted to account for any dividends paid by the company between now and completion.

The exclusivity period granted to Macquarie extends until 1 February 2026.

Qube’s chairman described the offer as “a reflection of the strength of Qube’s assets and operations”, signalling the board’s favourable view of the bid.

Market commentary highlights that global infrastructure funds and major shipping companies are increasingly active in the sector — meaning that while Macquarie appears front-runner, the possibility of competing bids cannot be ruled out.

The transaction underscores the strategic appeal of large-scale logistics and port infrastructure in Australia, and suggests a trend towards consolidation as private equity and asset-managers seek stable long-term cash flows from infrastructure.

For Qube shareholders, the offer delivers an immediate premium, while the broader public markets may see further exits of major infrastructure assets into private ownership.