Canadian company launches $9 billion takeover for Australian port and rail company
Canada's Brookfield Infrastructure made a $9 billion takeover overture to Asciano, which is Australia's largest port and rail company. Eamonn reported the news earlier.
The loonie and Australian dollar are both lower today and virtually unchanged against each other but they've diverged wildly for the past few days. The snap rebound after falling to the lowest levels of the year points to more gains.
AUDCAD daily
$9 billion isn't a huge flow but it's significant. Either way, it's better to have a light tailwind than no wind at all.
