Toll and Patrick shares jump across Tasman

Shares in the Toll and Patrick logistics companies have jumped in the first share market trades since last week's announcement of a successful takeover.

On Friday, freight group Toll announced it had finally succeeded in buying the port operator Patrick, paying $1.6 billion more than its original bid last August.

In the first few minutes of trade today, Toll shares climbed more than 11 per cent.

Patrick was up 9 per cent.

The prices have now eased a little.

Toll's chief executive Paul Little says shareholders will be very excited about the future of the company.

"This is exceptional value here, the business now has enormous potential," he said.

The takeover creates the biggest transport and logistics company in the Asia Pacific region and signals the end of a hostile eight-month battle.

- RADIO AUSTRALIA