Passenger Terminal Today
Dan Symonds
Sydney Airport in Australia has accepted an improved bid from the Sydney Aviation Alliance consortium for 100% of shares at A$8.75 (US$6.44) per stapled security.
This will be the third takeover attempt by the consortium following an initial bid of A$8.25 (US$6.07) per stapled security on July 5, 2021, and a revised indicative proposal of A$8.45 (US$6.21) per share as announced on August 16, 2021, both of which were determined not to be in the best interests of Sydney Airport shareholders. The latest bid is reported to be worth an estimated A$23.6bn (US$17.4bn) in total.
