15 Jul 2021
Sydney Airport’s board has rejected an offer for the ASX-listed company to be acquired, labelling it “opportunistic” and saying the bid “undervalues” its true worth.
Sydney Airport shareholders were
made aware of the offer by a consortium of infrastructure investors last week, which was hoping to purchase 100 per cent of stapled securities in the company at an indicative price of $8.25 each, equating to a valuation of more than $22 billion.
The consortium comprises IFM Investors as trustee for IFM Australian Infrastructure Fund, Conyers Trust Company as trustee for IFM Global Infrastructure Fund, QSuper Board as trustee for QSuper, and Global Infrastructure Management LLC.
05 Jul 2021
Sydney Airport has received an unsolicited, indicative, conditional and non-binding proposal from a consortium of infrastructure investors to acquire the company.
In an ASX announcement this morning, Sydney Airport said the consortium’s takeover offer is by way of a scheme of arrangement and trust scheme for 100 per cent of stapled securities in the company at an indicative price of $8.25 each, which equates to a valuation of more than $22 billion.
The consortium comprises IFM Investors as trustee for IFM Australian Infrastructure Fund, Conyers Trust Company as trustee for IFM Global Infrastructure Fund, QSuper Board as trustee for QSuper, and Global Infrastructure Management LLC.
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