SYDNEY – Sydney Airport received a multi-billion dollar takeover bid from a consortium of Australian investors today, sending its share price soaring.
The consortium of infrastructure investors and Australian pension funds offered A$8.25 (RM25.77) per share – or A$22.3 billion.
The proposal is “made during a global pandemic, which has deeply affected the aviation industry and the Sydney Airport security price”, said the airport’s board in a statement to the Australian Securities Exchange.
“The indicative price is below where Sydney Airport’s security price traded before the pandemic.”
The investors – calling themselves the Sydney Aviation Alliance – confirmed the approach, saying they invested on behalf of more than six million Australian pension fund members.
The alliance said the proposal will ensure substantial ongoing Australian ownership of the country’s biggest airport, contending it is “in the long-term interest of Sydney and the travelling public”.
Sydney Airport’s share price spiked more than 30% on the offer, which is now being considered by the company’s board. – AFP, July 5, 2021
