SYDNEY, Nov 16 (Reuters) - Australian rail and ports giant
Asciano Ltd AIO.AX said it allow rival Qube Holdings Ltd
QUB.AX to conduct due diligence after making an informal $6.3
billion takeover offer, in a potential blow to suitor Brookfield
Asset Management Inc BAMa.TO .
In a statement, Asciano said its board has "decided to grant
the Qube Consortium access to confirmatory due diligence,
subject to the agreement of appropriate confidentiality
arrangements".
Qube, led by Chris Corrigan who ran Asciano's port unit for
16 years, last week made an informal cash and scrip offer worth
A$9.25 per share, a day after Asciano endorsed a similar bid
from Brookfield. urn:newsml:reuters.com:*:nL3N13467P