SYDNEY, Feb 16 (Reuters) - Australian ports and rail giant Asciano Ltd (AIO) formally dumped an A$8.9 billion ($6.4 billion) buyout from Canada's Brookfield Asset Management Inc
after it failed to match a higher offer from local rival Qube Holdings Ltd (QUB). In a statement on Tuesday, Asciano said that after giving the Canadian infrastructure investor five days to match a A$9 billion rival approach from locally listed Qube, Brookfield did not front up with a better offer.
"The Brookfield bid will now be terminated," the statement said, adding that Asciano has now signed binding sale documents with Qube.
($1 = 1.4013 Australian dollars)
News: Australia's Asciano bins $6.4 bln Brookfield bid it had endorsed
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