Qube receives ASX waiver on Macquarie Asset Management-led sale

The news: Logistics company Qube has received approval from the ASX to be acquired by a Macquarie Asset Management-led consortium for $11.7 billion on a timeline beyond listing rules to accommodate the payment of a special dividend and the bidder’s drawdown of funds for the deal.

The context: Qube entered a scheme implementation deed to be acquired by a consortium led by Macquarie Asset Management in February.

This includes the payment of a combined ordinary and special dividend of 40 cents per share which will be deducted from the cash offer price of $5.20 per share.

Qube said the special dividend is intended to be fully franked.