Asciano clears the air on takeover talk

Asciano denies that takeover of the company has been narrowed down to two bidders, but decision will be made soon

Asciano has quashed rumours that a takeover of the company has been narrowed down to two bidders, but says a decision will be made before June 30.

Shares in the troubled transport infrastructure operator skyrocketed late last week due to speculation independent infrastructure fund Global Infrastructure Partners (GIP) planned to pull out of a consortium and make a solo bid.

In response to a query from the ASX, the Asicano says it wanted to put rumours to rest regarding the proposals it has received, as well as speculation the company’s banking syndicate has sought a maximum term of any extension rollover of two months.

According to Asciano, the reports are "factually incorrect" and have "no basis or substance."

However the company did not move to confirm or deny the supposed revamped interest from GIP, which denied to comment on the situation.

Asciano, whose subsidiary Pacific National recently announced a massive coal haulage deal with McArthur Coal, expects to announce an increase in its earnings before tax and earnings depreciation at the end of the financial year.

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