Hanwha says it has been given approval by foreign investment officials in the United States to buy out the entirety of Austal, the ASX-listed shipbuilder that specialises in defence and has a major facility in Alabama.

But Austal, which is backed by the billionaire Forrest family and has long pushed back against Hanwha’s interest in acquiring the company, accused the Korean conglomerate of misrepresenting the approvals.