Feb 16 (Reuters) - Asciano Ltd AIO.AX :
* Asciano recommends Qube consortium proposal AIO.AX
* Says the Brookfield bid will now be terminated
* Says Brookfield infrastructure did not submit a matching or superior proposal within this period
* Says Asciano will also apply to the court for orders to cancel the scheme meeting in respect of the Brookfield offer
* Says recommends that Asciano shareholders accept takeover offer to be made under Qube consortium proposal in respect of all of their Asciano shares
* Asciano has now signed binding transaction documentation with Qube consortium including implementation deed in relation to takeover offer
* As a result of change in recommendation in favour of the Qube consortium proposal, a break fee of A$88 million will be paid to Brookfield infrastructure
* Under the Qube consortium proposal, Qube will acquire 100% of ports for an enterprise value of A$2.65 billion
* Baps will be sold to an entity to be established and owned initially by GIP, CPPIB and CIC capital for an enterprise value of A$850 million
* Source text for Eikon ID:nASX5zZJt8