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4 Min Read SYDNEY (Reuters) - Sydney Airport Holdings Pty Ltd 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. FILE PHOTO: People walk through the domestic terminal at Sydney Airportin Sydney, Australia, December 21, 2020. REUTERS/Loren Elliott 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 and Qube Holdings.

United statesNew south walesStephen coatesRob kohCentre for aviationThomson reuters trust principlesMorgan stanleyAssociation of superannuation funds australiaSydney aviation allianceMacquarie groupTelstra corpSpark infrastructure groupWestfield groupSydney airport holdings pty ltdCo incQube holdings