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Toll tipped for Freight Australia buy-out

<p>Toll Holdings is contemplating buying Freight Australia, according to a report in today’s (Wednesday, August 20) <em>Australian Financial Review</em> .</p> <p>Industry talk in the past fortnight has placed Toll and Patrick among the likely bidders for the rail operator if Freight Australia’s owner, Rail America, decides to quit Australia, the paper said.</p> <p>The speculation follows Rail America’s recent admission to investors at a US conference that it is committed to selling US$100m in assets to balance its books and satisfy lenders.</p> <p>Toll Holdings is already involved in a protracted takeover bid for New Zealand’s Tranz Rail. </p> <p>Freight Australia said this morning (Wednesday, August 20) it had no comment to make on the issue.</p> <br />