A group led by Canada's Brookfield Asset Management will purchase Australian logistics firm Asciano Ltd for A$8.9 billion ($6.56 billion), creating a global port and rail freight business.The deal, the fifth-largest takeover of an Australian firm by an overseas entity and the biggest by a Canadian firm, underscores the huge international appetite for Australian infrastructure. Brookfield and Asciano confirmed the sweetened deal as Asciano beat analyst expectations with a 19 percent jump in underlying net profit for the year to June 30 due to the benefits of a A$3 billion equipment overhaul.Asciano said in July that Brookfield made an indicative offer of A$9.05 per share but on Tuesday said Brookfield upped its offer price to A$9.15 per share, giving it a market capitalisation of A$8.9 billion and an enterprise value of A$12 billion.
Brookfield Asset Management Inc. (Brookfield) is a global alternative asset manager. Shares of BAM fell by 0.06% or $-0.02/share to $34.50. In the past year, the shares have traded as low as $28.40 and as high as $39.00. On average, 1245530 shares of BAM exchange hands on a given day and today's volume is recorded at 1630935.
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