Six months after it walked away from its pursuit of Austal, South Korea’s Hanwha is back, launching an after-market raid worth up to $180 million.
According to a term sheet circulated by Jarden’s equity capital markets team, Hanwha was after 9.9 per cent of Austal’s shares and was willing to pay $4.45 per security, a 16 per cent premium to the last close.
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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
