SYD rejects again

sYDneY Airport has rejected another takeover proposal from the Sydney Aviation Alliance consortium, labelling the revised acquisition offer “not in the best interests of security holders”.

The follow up offer put forward a value of $8.25 per stapled security, the same value of its original bid (TD 15 Jul), however this time Sydney Airport was advised that AustralianSuper had joined the consortium.

The airport’s board was unmoved by the development, unanimously concluding the offer still undervalued the business.