Qube to snap up logistics and transport company Chalmers

Company News

by Rachael Jones

Quotation of Chalmers (ASX:CHR) is set to be suspended today as fellow logistics company Qube makes a compulsory take-over bid.

Sydney-based Qube said it was offering Chalmers shareholders the option to either receive 2.31 Qube shares for their shares, or $6.50 in cash.

The Offer closed yesterday evening.

On 29 July 2019, Qube announced that it had acquired a relevant interest in more than 90 per cent of Chalmers shares as a result of acceptances received under the Offer.

Founded in 1882, Chalmers offers logistics and transport operations, with cargo container parks near the ports in Melbourne and Brisbane and a fleet of 100 trucks.

Shares in Chalmers (ASX:CHR) last traded at $7.10 on 5th of August.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.