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Qube Holdings Advances Rubik Australia Deal Ahead of Regulatory Approvals

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Qube Holdings (ASX:QUB) said it will proceed with shareholder meetings on Tuesday regarding its proposed acquisition by Rubik Australia despite key regulatory approvals from the Australian Competition and Consumer Commission, the Australian Foreign Investment Review Board, and New Zealand's Overseas Investment Office still being outstanding, according to an Australian bourse filing on Monday after market hours.

In addition, the company postponed the second court hearing to July 7 from June 18 and revised the timetable to allow more time for the outstanding conditions to be satisfied, per the filing.

The board unanimously recommends that shareholders approve the scheme, unless a superior proposal arises and if the independent expert continues to conclude it is in shareholders' best interests, the filing added.

The board proposes to declare a fully franked special dividend of AU$0.3465 per share after the scheme becomes effective, the filing said.

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