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Sydney Airport gets $16.7 billion buyout bid; stock surge misses offer price
By Jamie Freed and Scott Murdoch
Reuters
SYDNEY (Reuters) -Sydney Airport Holdings Pty Ltd on Monday said a group of infrastructure investors has proposed a A$22.26 billion ($16.7 billion) buyout of the operator of Australia s biggest airport, sending its shares surging albeit short of the offer price.
If successful, the deal would be Australia s biggest this year, eclipsing the $8.1 billion spin-off of Endeavour Group Ltd and Star Entertainment Group Ltd s $7.3 billion bid for Crown Resorts Ltd.
The Sydney Aviation Alliance - a consortium comprising IFM Investors, QSuper and Global Infrastructure Partners - has offered A$8.25 per Sydney Airport share, a 42% premium to the stock s Friday close.
Australia
Hong-kong
Sydney
New-south-wales
Heathrow
Hillingdon
United-kingdom
Perth
Western-australia
Melbourne
Victoria
Brisbane
Sydney Airport gets $16.7 billion buyout bid; shares surge Reuters 4 hrs ago By Jamie Freed and Scott Murdoch © Reuters/LOREN ELLIOTT FILE PHOTO: A quiet Sydney Airport is seen in the wake of a COVID-19 outbreak in Sydney
By Jamie Freed and Scott Murdoch
SYDNEY (Reuters) -Sydney Airport Holdings Pty Ltd said on Monday a consortium of infrastructure investors had proposed a A$22.26 billion ($16.7 billion) cash buyout of the operator of Australia s biggest airport, sending its shares up as much as 38%.
If successful, it would be the biggest such deal in Australia this year, eclipsing the $8.1 billion spin-off of Endeavour Group Ltd and Star Entertainment Group Ltd s $7.3 billion bid for Crown Resorts Ltd.
Australia
Hong-kong
Sydney
New-south-wales
Perth
Western-australia
Brisbane
Queensland
Melbourne
Victoria
Bengaluru
Karnataka