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Highlights

  • Qube Holdings’ shares jump 7.1%, reaching highest level in over a month.

  • Australia’s competition watchdog clears Qube's acquisition of MIRRAT with conditions.

  • Qube outperforms ASX 200 benchmark despite year-to-date decline.

Shares of Qube Holdings Ltd (ASX:QUB) rallied as much as 7.1% to A$3.95 on Thursday, marking their sharpest intraday gain since early May. The spike took the stock to its highest level since April 2, 2024, following positive regulatory news regarding a major acquisition.

The upswing came after the Australian Competition and Consumer Commission (ACCC) granted conditional approval for Qube’s proposed takeover of Melbourne International RoRo & Auto Terminal (MIRRAT). The logistics and infrastructure company had been seeking regulatory clearance to expand its footprint at the Port of Melbourne, a critical entry point for imported vehicles and heavy machinery into Australia.

The ACCC’s green light came with specific undertakings that Qube must follow to maintain competitive market dynamics. These stipulations are designed to address concerns that the acquisition could potentially hinder competition in automotive and rolling stock handling at the port. While the details of the conditions were not immediately disclosed, Qube stated it is committed to complying with all required measures to finalise the deal.

MIRRAT is the only purpose-built Roll-on/Roll-off terminal at the Port of Melbourne, operated by Wallenius Wilhelmsen, and plays a vital role in handling automotive imports. Qube’s move to acquire the facility aligns with its broader strategy of consolidating its position within Australia’s freight and logistics sector by enhancing operational capacity and efficiency across key supply chain points.

Despite the recent rally, Qube’s stock is still down 1.5% year-to-date. However, this compares favourably to the ASX 200 benchmark index, which has fallen 5.1% in the same period. The market's positive response to the ACCC’s decision reflects investor optimism over Qube’s future earnings potential and strategic growth plans.

Market analysts noted that the acquisition, once completed, is likely to provide Qube with a significant operational advantage in the automotive logistics space. By integrating MIRRAT’s assets and operations into its own network, Qube could unlock new revenue streams and improve turnaround times for vehicle imports — an increasingly important segment given rising demand for both electric and traditional vehicles across Australia.