A $9.05 billion foreign takeover of rail and ports giant Asciano will be delayed because of the federal election.
The Foreign Investment Review Board has sought an extension on the timing of its decision on the deal because the federal government has entered caretaker mode ahead of the July 2 election.
Asciano has agreed, and now expects a ruling by the FIRB by July 22, compared to original expectations of the takeover being completed by the end of June.
The deal involves a carve up of Australia's largest rail and ports operators among local logistics firm Qube and Canadian infrastructure giant Brookfield, plus six other global investment funds.
FIRB approval is required due to the strategic importance of Asciano's port and rail businesses.
It owns the Pacific National rail freight business, and also handles nearly half of all container traffic entering or leaving Australia through its Patrick container terminal unit.
A meeting of Asciano shareholders to vote on the takeover, originally scheduled for June 3, will now also be pushed back, as will a second court hearing on the deal.
A separate ruling on the deal by the Australian Competition and Consumer Commission is due on May 26.
The takeover already faces a legal threat after Asciano's partner in the ACFS Logistics joint venture sought court orders to protect its rights.
Asciano shares dropped three cents to $8.85.
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