Australia Briefing

Australia M&A Sparks to Life With $8 Billion Qube Deal

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Containers at the Qube Holdings Ltd. Vic Dock Warehouse facility in West Melbourne, Australia, on Tuesday, Nov. 25, 2025.Photographer: Carla Gottgens/Bloomberg

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By Keira Wright and Adam Haigh

February 16, 2026 at 9:37 PM UTC

Good morning from Melbourne. Earnings season is officially in full swing — and it’s already delivering some drama. Yesterday, Treasury Wine Estates missed analyst expectations in its half-year results, sending its shares sliding. On the brighter side, things looked a little rosier for infant formula maker a2 Milk, with the CEO saying the business is performing well in China. Up next: BHP reports its half-year earnings this morning, so keep an eye out for that. - Keira Wright, Australian Energy Reporter

The A$11.7 billion acquisition of Qube Holdings by a Macquarie-led group has given dealmakers in Australia a much-needed lift after a tricky 2025 and at least one big missed opportunity early this year. The consortium will pay A$5.20 per Qube share.