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Sydney Airport enticed by revised takeover offer

A drawn-out takeover bid for Australia’s biggest airport may be reaching a conclusion after the consortium seeking to buy Sydney Airport upped its offer to $A8.75 a share.

The airport announced yesterday it would open its books so the alliance of IFM investors, QSuper, AustralianSuper and Global Infrastructure partners could perform due diligence.

The indicative, conditional land non-binding offer was the third attempt by the consortium to bid for the airport — the previous offers of $A8.25 and $A8.45 a share were rebuffed — with the latest offer worth almost $A24 billion.

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Source:: AirlineRatings.Com

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