Latest Breaking News On - Airport holdings pty ltd - Page 1 : comparemela.com

Board says proposal undervalues airport Would have been one of Australia s biggest buyouts SYDNEY, July 15 (Reuters) - Sydney Airport Holdings Pty Ltd (SYD.AX) said on Thursday it would reject a A$22.26 billion ($16.6 billion) takeover proposal from a group of infrastructure funds, the biggest of a frenzy of Australian deals fuelled by record-low interest rates. The operator of Australia s largest airport said directors had unanimously concluded the proposal undervalued the airport and was not in the best interest of shareholders. If successful, it would have been one of Australia s biggest buyouts. Record-low interest rates have prompted pension funds and their investment managers to chase higher yields, leading to recent asset purchases from Telstra Corp (TLS.AX) and Qube Holdings (QUB.AX). read more

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