ACCC clears $11.6B logistics provider Qube takeover

·       The Australian Competition and Consumer Commission cleared Rubik Australia to acquire logistics provider Qube.

·       Following the clearance, the logistics provider will pay a special dividend of $0.34 per security.

·       The consortium continues to progress the transaction while awaiting the remaining global regulatory clearances.

The competition regulator cleared the $11.6 billion acquisition of logistics firm Qube (ASX:QUB).

This decision follows Qube entering a scheme implementation deed with a Macquarie Asset Management-led consortium late last year.

The transaction received more than 98% shareholder approval at a general meeting on Tuesday.

The companies are now awaiting remaining regulatory clearances from foreign investment screening boards in Australia and New Zealand.

Following the announcement, the Qube share price was down at $5.07.

The board will pay a fully franked special dividend of $0.34 per security when the transaction takes effect.

The updated timeline has rescheduled the final scheme implementation date to Aug. 14 subject to ongoing court approvals.