Opportunity for SAA in this pa

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Nicktwa
2021-09-13

Opportunity for SAA in this pandemic

Sydney Airport board to grant due diligence after improved $17.4 bln offer

* Bidder is a consortium of infrastructure investors * Latest proposal is 3.6% higher than last one

Sydney Airport board to grant due diligence after improved $17.4 bln offer

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($1 = 1.3587 Australian dollars)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sydney Airport board to grant due diligence after improved $17.4 bln offer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSydney Airport board to grant due diligence after improved $17.4 bln offer\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-09-13 07:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* Bidder is a consortium of infrastructure investors</p>\n<p>* Latest proposal is 3.6% higher than last <a href=\"https://laohu8.com/S/AONE.U\">one</a></p>\n<p>* Non-exclusive due diligence expected to take 4 weeks</p>\n<p>SYDNEY, Sept 13 (Reuters) - <a href=\"https://laohu8.com/S/SYDDF\">Sydney Airport</a> Holdings Pty Ltd&nbsp;said on Monday it had granted a consortium of infrastructure investors access to due diligence after the group boosted a takeover proposal by 3.6% to A$23.6 billion ($17.37 billion).</p>\n<p>The improved offer of A$8.75 a share compares to prior proposals from the consortium of A$8.45 and A$8.25 respectively, both of which had been rejected by the airport operator's board as inadequate.</p>\n<p>Sydney Airport shares last closed at A$8.00 on Friday, before the increased offer price was announced.</p>\n<p>The bidding consortium, Sydney Aviation Alliance <a href=\"https://laohu8.com/S/SAA.UK\">$(SAA.UK)$</a>, is comprised of Australian investors IFM Investors, QSuper and AustralianSuper and U.S.-based Global Infrastructure Partners.</p>\n<p>SAA has been granted non-exclusive due diligence that is expected to take four weeks after signing a non-disclosure agreement, Sydney Airport said.</p>\n<p>If SAA makes an acceptable binding proposal, the current intention is for the board to recommend it in the absence of a superior offer, the airport operator added.</p>\n<p>A SAA spokesman said the consortium welcomed the announcement and looked forward to working with Sydney Airport's board to finalise the transaction. ($1 = 1.3587 Australian dollars)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SYD.AU":"SYDNEY AIRPORT"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167305192","content_text":"* Bidder is a consortium of infrastructure investors\n* Latest proposal is 3.6% higher than last one\n* Non-exclusive due diligence expected to take 4 weeks\nSYDNEY, Sept 13 (Reuters) - Sydney Airport Holdings Pty Ltd said on Monday it had granted a consortium of infrastructure investors access to due diligence after the group boosted a takeover proposal by 3.6% to A$23.6 billion ($17.37 billion).\nThe improved offer of A$8.75 a share compares to prior proposals from the consortium of A$8.45 and A$8.25 respectively, both of which had been rejected by the airport operator's board as inadequate.\nSydney Airport shares last closed at A$8.00 on Friday, before the increased offer price was announced.\nThe bidding consortium, Sydney Aviation Alliance $(SAA.UK)$, is comprised of Australian investors IFM Investors, QSuper and AustralianSuper and U.S.-based Global Infrastructure Partners.\nSAA has been granted non-exclusive due diligence that is expected to take four weeks after signing a non-disclosure agreement, Sydney Airport said.\nIf SAA makes an acceptable binding proposal, the current intention is for the board to recommend it in the absence of a superior offer, the airport operator added.\nA SAA spokesman said the consortium welcomed the announcement and looked forward to working with Sydney Airport's board to finalise the transaction. 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