Sydney Airport and its suitor IFM Investors face a potential battle with Australia’s competition watchdog and small shareholders after agreeing to a $23.6 billion takeover from a consortium led by IFM and Global Infrastructure Partners.
In one of Australia’s biggest deals, Sydney Airport told investors on Monday the consortium had lodged a binding offer of $8.75 per security at the weekend. The directors, chaired by David Gonski, decided to recommend investors vote for the deal at a meeting slated for January 24.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
