Looks like Austal wasn’t the only ASX-listed defence outfit being scoped out by overseas interests. Tesserent, the country’s largest listed cybersecurity company, is set to sell itself to French defence giant Thales.
The 13¢ per share bid is a 165 per cent premium to Tesserent’s last closing price of 4.6¢ and has been unanimously recommended by the board. The takeover is subject to approval from the Foreign Investment Review Board.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
