AAP Rolling News Bulletin Jul 15, 1000
AAP Rolling News Bulletin Jul 15, 1000 15 July 2021
Rolling News Bulletin 1000 AAP Rolling News Bulletin for Jul 15 at 1000 Sydney Airport (SYDNEY) Sydney Airport has rejected a $22.3 billion takeover offer because it undervalues the business, which runs the nation s biggest aviation hub. The airport was earlier this month approached by a consortium of infrastructure investors with an offer of $8.25 per stapled security. The boards have concluded that the indicative proposal undervalues Sydney Airport and is not in the best interests of security holders, it said in a statement on Thursday. It concluded the timing of the offer, coming in the wake of the coronavirus pandemic and ahead of Australia opening its borders at some future point, was opportunistic . The indicative price is below where Sydney Airport s security price traded before the pandemic, it said. Sydney Airport is Australia s major gateway to international travel and