Sydney Airport to open books after sweetened US$17.4 billion bid

Sydney Airport to open books after sweetened US$17.4 billion bid
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(Sept 13): Sydney Airport said it will open its books to a group of suitors after they sweetened their takeover offer to A$23.6 billion (US$17.4 billion).

Bidders led by IFM Investors increased their offer to A$8.75 a share, the airport said in a statement Monday. The previous offer was A$8.45 for each share.

The airport said it plans to recommend shareholders accept the latest bid if, following due diligence, the consortium turns it into a binding offer and the conditions of the proposal are acceptable.