QR wants closer alliances with Linfox, not acquisition

<p>Queensland Rail was not interested in adding Linfox to its list of takeover targets, despite media reports to the contrary, QR chief executive Bob Schueber said. </p> <p>QR is currently targeting freight-forwarders FCL Interstate Transport Services after submitting a bid, potentially worth about $140m, last week.</p> <p>FCL had employed merchant bankers Canterbury Partners to gauge market interest. </p> <p>There are believed to be three other potential bidders, including Linfox, freight-forwarders K&#38S and road and rail group SCT.</p> <p>Bids close at the end of July, with a decision expected within four weeks.</p> <p>Mr Schueber said the company was interested in both acquisition and alliance.</p> <p>He said Linfox was not an acquisition target as it was not for sale and QR was not interested.</p> <p>The company would instead look for &#8220closer alliances&#8221 with Linfox, he said.</p> <p>&#8220I am not an acquirer of assets for the sake of it,&#8221 Mr Schueber told the <em> Australian</em> .</p> <p>&#8220I want to provide a service and that means linking in with people who want to help put freight on trains,&#8221 he said.</p> <br />