Austal Confirms Talks With Wildcat Infrastructure Over US Sale
Synopsis
Austal confirms initial talks with Wildcat Infrastructure over a potential US business sale, following a separate $1.7 billion offer from South Korea’s Hanwha.
Key Highlights
- Austal has been notified of a first-tier, exploratory conversation with the US-based Wildcat Infrastructure.
- No formal offer has been received by Wildcat according to the company.
- Austal said this in a response to media reports regarding interest by US businesses.
- The talks come after South Korea’s Hanwha revealed a $1.7 billion bid for Austal’s US division last month.
Austal Confirms Preliminary Talks
Shipbuilder Austal has announced it is engaged in an “early phase” discussion with Wildcat Infrastructure out of the US, but has not received any proposal from them.
Austal was responding to a media report by the West Australian about Wildcat regarding a takeover proposal which is part of the family investment firm Wildcat Equity Partners.
Wildcat’s talks come after Austal revealed last month that it had rejected a $1.7 billion takeover offer for its US arm by South Korea’s Hanwha.
Source: Capital Brief
At Inspirepreneurs Magazine, covering entrepreneurship, business failures, and the human stories behind the world's most ambitious founders. She writes at the intersection of strategy and storytelling.
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