Asciano was demerged from Toll Holdings in 2007, and owned Patrick Corporation and Pacific National as subsidiary companies.

Asciano specialised in bulk and container shipping and transportation, with port and train operations across Australia.

[1] In June 2015, Brookfield Infrastructure Partners launched a takeover offer for the company, and Qube Holdings later made a counter offer.

The offers had attracted the attention of the Australian Competition & Consumer Commission, with both already owning transport and port operations in Australia.

[2][3] On 3 June 2016, shareholders of Asciano voted in favour of the takeover bid with the Foreign Investment Review Board announcing that it had no objections for the offer on 27 July 2016.