South Korean Conglomerate Hanwha Group on Tuesday reaffirmed its willingness to continue pushing for a takeover of Australian shipbuilder Austal despite the latter’s earlier announcement to reject the former’s offer due to low chances of obtaining regulatory approvals. According to media reports and industry sources, the value of the acquisition offer has been estimated between 895 million and 1.02 billio.
Auctioneer Tom Panos said recent estimates that Chinese buyers were snapping up $8million of Australian property every day was conservative and that the amount spent was actually a lot higher .