A consortium consisting of IFM Investors, QSuper and Global Infrastructure Partners has submitted a A$22.6 billion ($16.9 billion) unsolicited takeover bid for Sydney Airport, according to Reuters.
Sydney Airport is one of the world's longest continuously operated commercial airports, and the busiest airport in Australia. The cash offer boils down to A$8.25 ($6.18) per share, which represents a 23 percent premium to the airport’s closing price on July 1, and a 42 percent premium to the stock’s close on Friday, report industry sources.
If the offer is accepted, this would be one of the largest-ever purchases in Australia by enterprise value in U.S. dollar terms. It also would be the eighth-biggest deal globally this year and the second-largest airport purchase.
