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Multiple reasons to bump Sydney Airport bid: Macquarie
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IFM Investors and partnersâ $30 billion bid for Sydney Airport values the group at 26.3-times pre-COVID earnings and 20-times what the airportâs likely to earn in 2025.
Theyâre the numbers from Macquarie analysts, who valued Sydney Airport on Tuesday morning to try to work out whether the bidding consortium could offer more than the stated $8.25 a share.
Think about 2019 and 2025 when trying to value Sydney Airport, Macquarie analysts say. Â
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Macquarieâs analysts said it was pointless talking bid multiples based on current year or even one-year forward earnings, as would normally be the case, given Sydney Airportâs past year and the near-term outlook for international and domestic travel.
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