brambles-in-takeover-spotlight

Brambles in takeover spotlight

Speculation that Brambles is a takeover target is re-ignited as infrastructure newcomer Asciano buys a sizable stake in the business.
Rumours that the worldÆs largest pallet management company Brambles is ripe for takeover were running hot yesterday as the new Toll HoldingsÆ spin-off, Asciano Group, confirmed that it had bought a 1.76% stake in Brambles through the public markets.

At the same time, Brambles also confirmed that Toll Holdings had bought about five million shares, or just under 0.5% of the business.

The shareholdings were uncovered by Brambles during a routine check of the underlying beneficial owners of its shares. The check showed that two subsidiaries of Asciano, called National Rail Consortium and MS Corporate Services, held the shares through Macquarie Bank which had been instructed to purchase the stock back in late June. Toll...
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