Sydney Airport board hit with smash-and-grab offer
The Sydney Aviation Alliance consortium bid for Sydney Airport is at such a huge premium to the recent share price that it leaves little if any wriggle room for the target company’s board.
The Sydney Airport takeover was so well planned and so well priced that it has neutralised the impact of the country’s two best M&A brains – David Gonski and Matthew Grounds.
Gonski, who is chairman of Sydney Airport, and Grounds, who is executive chairman of Barrenjoey Capital Partners, have virtually nowhere to turn when it comes to building a defence strategy.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
