Qube has raised its cash component by 7.0 cents to $7.04 per Asciano share, in addition to one Qube share, valuing the target company's shares at $9.24 each.

The improved bid has helped it gain the confidence of its target, and Asciano’s board on Monday declared the offer superior to its rival from Canadian infrastructure giant Brookfield. Qube’s celebrations could, however, be shortlived, with the Canadian predator now considering an all-cash bid for Asciano worth $9.28 a share….