Travel Daily

SYD board swayed


SYDNEY Airport’s board will unanimousl­y recommend that shareholde­rs vote in favour of a revised takeover from the Sydney Aviation Alliance, pending independen­t expert approval.

The change of position follows another acquisitio­n bid by the consortium which this time sweetened the pot by offering an increased $8.75 cash per stapled security, a rise from the previous $8.45 value offered.

Sydney Airport has now granted the suitor permission to conduct due diligence to enable it to put forward a formal binding proposal, which is expected to take around four weeks.

Newspapers in English

Newspapers from Australia