Australia M&A Sparks to Life With $8 Billion Qube Deal

Article content(Bloomberg) — The A$11.7 billion ($8.3 billion) acquisition of Qube Holdings Ltd. by a Macquarie-led group has given dealmakers in Australia a much-needed lift after a tricky 2025 and at least one big missed opportunity early this year. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentMacquarie Asset Management is heading a consortium paying A$5.20 per Qube share in what will be — pending approvals — the biggest M&A deal in Australia since Blackstone Inc. bought AirTrunk in a A$24 billion transaction in 2024. Macquarie Capital advised the buyers, while UBS Group AG advised Qube.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentMonday’s announcement helps to tee up 2026 nicely for bankers scarred by the collapse of what would’ve been multibillion dollar deals involving Australian heavyweights including BHP Group Ltd. and Santos Ltd. Already this year, Rio Tinto Group Ltd. has walked away from talks to acquire Glencore Plc. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentDealmaking in Australia is generally weighted toward mining and resources, but infrastructure could become more significant, as shown by Qube, which has logistics operations in Australia, New Zealand and Southeast Asia. Pontegadea, the family office of the Zara fashion brand founder, is also in the consortium. Article contentThere are infrastructure-related deals to be made tied to the boom in artificial intelligence as well. In a recent example, Blackstone-led funds last week finalized a $10 billion loan to fund an expansion of data centers by Australian startup Firmus Technologies Pty. Article content“We’re poised to see more infrastructure-related transactions in Australia,” said Raghu Narain, head of investment banking for APAC at Natixis CIB. “It’s a defensive sector against volatility that also offers growth opportunities, particularly around digital infrastructure, energy transition and public assets.”Article contentArticle contentAustralia offers chunky assets and a clear regulatory and legal framework — key factors for global companies and investment funds in getting deals done, according to Narain.Article contentEven without the Qube transaction, Australian M&A volume is up 18% so far in 2026 from the same period last year, data compiled by Bloomberg show. As a mature market, Australia tends to host bigger deals when they do transpire.Article content“Australia is critical for investment banks given that large deals take place there and fees are quite good compared with other markets in the region,” Narain said.Article content(Adds advisers in second paragraph, quotes starting from sixth.)Article contentTrending Carney Plots 'Buy Canada' Defense Strategy to Unlock Billions in Investment PMN Business Subscriber only. Donald Trump plans to roll back tariffs on steel and aluminium goods Subscriber only Financial Times Stellantis Canada CEO says sale of Ontario battery plant was due to poor EV demand Commodities 'Escape hatches are gone': Power of sale listings surge in Toronto Real Estate Subscriber only. These are the TFSA and RRSP tricks that can make you a fortune Subscriber only Personal Finance Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Carney Plots 'Buy Canada' Defense Strategy to Unlock Billions in Investment PMN Business Subscriber only. Donald Trump plans to roll back tariffs on steel and aluminium goods Subscriber only Financial Times Stellantis Canada CEO says sale of Ontario battery plant was due to poor EV demand Commodities 'Escape hatches are gone': Power of sale listings surge in Toronto Real Estate Subscriber only. These are the TFSA and RRSP tricks that can make you a fortune Subscriber only Personal Finance