Australia’s busiest airport has accepted a takeover offer from a consortium consisting of IFM Investors, QSuper and Global Infrastructure Partners, months after the initial bid was submitted.
In July, the Sydney Aviation Alliance consortium submitted an unsolicited takeover proposal of A$22.6 billion ($16.7 billion) — or A$8.25 ($6.11) per share — for the airport. The accepted offer now values the airport at A$23.6 billion ($17.4 billion), or A$8.75 ($6.48) per share.
The airport has signed a scheme implementation deed with the consortium and unanimously recommended shareholders vote in favor of the deal, according to industry sources.
