* Asciano says halt related to "announcement"
* Media reports say company to recommend Brookfield takeover
deal
* Company to report annual results
By Byron Kaye
SYDNEY, Aug 18 (Reuters) - Asciano Ltd AIO.AX requested a
trading halt on Monday after media reports said the Australian
rail freight firm would recommend shareholders approve a $6.5
billion takeover offer from Canada's Brookfield Asset Management
BAMa.TO when it reports annual results on Tuesday.
In a filing to the Australian Securities Exchange, Asciano
said it requested the halt because it "expects to make an
announcement to the ASX shortly in relation to recent media
speculation."
The company gave no details, but a day earlier Fairfax Media
said Brookfield's due diligence had "gone well" and "Asciano
investors are waiting now on a formal bid" following an informal
approach in June.
A Brookfield spokeswoman declined comment.
The deal, which would be the seventh largest buyout of an
Australian firm by an overseas entity, would underscore the huge
international appetite for Australia infrastructure. Record low
interest rates have added to the M&A appeal of a sector already
struggling with lower valuations because of a downturn in coal
exports.
Asciano shares have traded at a discount to Brookfield's
indicative offer price since the target disclosed the approach
on July 1, as investors question whether the Australian firm
will submit to a takeover just as it starts to benefit from a
A$3 billion ($2.21 billion) equipment overhaul.
The stock last traded on Friday at A$8.11, an 11 percent
discount to Brookfield's A$9.10 indicative bid.
Asciano is expected to post a net profit of A$392 million
for the year to June 30 on Tuesday, according to the average
forecast of 16 analysts polled by Thomson Reuters Starmine, its
highest since being spun off by Toll Holdings in 2007.
Earlier this year, Asciano's former parent company, Toll
Holdings, agreed to a A$6.5 billion takeover by Japan Post
Holdings Co Ltd IPO-JAPP.T
($1 = 1.3581 Australian dollars)