Transurban takes on Queensland

$7.1bn just doesn’t buy what it used to, but it’s enough to win some of the Sunshine State’s most prized motorways.

Winning an auction is always bitter-sweet. You take home the prize but have paid more than anyone else thought it was worth. We’re still scratching our heads, though, as to how even Transurban’s management could justify its $7.1bn winning bid for Queensland Motorways, which was pre-approved by the ACCC a month ago (see Transurban approved to buy QLD Motorways from 7 Apr 14 (Hold – $7.22)).

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