Travel Daily

SYD rejects again

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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.

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