Qube to snap up Chalmers container transport

Qube to snap up Chalmers container transport

Qube has made an off-market takeover offer, through its indirectly wholly owned subsidiary, Qube Logistics (Aust) Pty Ltd, for all of the ordinary shares in Chalmers Limited.

Qube is offering holders of Chalmers shares 2.31 Qube shares or $6.50 cash. This values Chalmers at approximately $60 million with any cash component to be funded from existing Qube debt facilities.

Qube’s managing director Maurice James said: “The offer provides an opportunity for Chalmers shareholders to obtain liquidity for their shares at an attractive premium.”

Chalmers’ chairman Graham Mulligan said: “The offer represents attractive value for Chalmers shareholders. The directors of Chalmers intend to unanimously recommend that Chalmers shareholders accept Qube BidCo’s off-market takeover offer for all the ordinary shares in Chalmers, in the absence of a superior proposal.”

The Chalmers transport and logistics operations, coupled with the company’s strategically located property assets, are complementary to those of Qube Logistics. The acquisition will allow Qube to progress its growth plans while also providing an opportunity for significant cost savings by integrating the Chalmers businesses to achieve greater efficiencies and economies of scale.

MREC HERE

You may also like to read:


, , ,

Comments are closed.

Newsletter

Sign up with your business email address to keep up with the latest industry news from T&L. Newsletter sent every week.

Most Read

THE ICONIC to trial delivery by drone
THE ICONIC, the online fashion retailer, has signed up as a ...

Supported By