Brambles shares jumped 12 per cent on Wednesday, reversing all of 2007’s fall in a single trading session, on speculation the world’s biggest supplier of pallets could be a takeover target.

Asciano, an infrastructure group, was identified as owner of a 1.8 per cent stake in Australian-based Brambles, while Toll Holdings, Asciano’s former parent and Australia’s biggest freight company, disclosed it had built a 0.5 per cent stake.