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Hanwha proposes 9.9% acquisition of Austal with premium offer - Reuters

Published 17/03/2025, 15:56
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Investing.com -- South Korean company Hanwha is set to acquire 9.9% of Australian shipbuilding firm Austal, according to Reuters. This comes after a failed takeover bid of 1.02 billion AUD ($646.17 million) from the previous year.

As per the term sheet reviewed by Reuters, Hanwha has made an after-market offer for 41.2 million shares of Austal at a rate of A$4.45 per share. This offer marks a 16.2% premium on the closing price of the shares on Monday. This move by Hanwha is a strategic step to gain a significant stake in the Australian shipbuilder.

The acquisition aims to strengthen Hanwha’s position in the shipbuilding industry and presents a new chapter in the business relationship between the South Korean company and Austal. The details of the completion of the transaction have not been disclosed yet.

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