Shipbuilder Austal receives a non-binding offer from South Korean firm Hanwha to acquire its US operations, with the proposed value described as $1.2 billion or up to $1.7 billion depending on the reporting. The outlets covering the story say the bid is directed at Austal’s US subsidiary, often referred to as Austal USA.
If the transaction proceeds, Austal is expected to continue trading on the ASX and to retain its Australian shipbuilding activities, which are based at Henderson. Other coverage notes that the offer is made for the US business rather than the whole company. The differing figures and phrasing reflect how outlets report deal value versus the maximum potential consideration, but all describe Hanwha’s interest as an acquisition bid for the US unit.
With shares reported to have risen on news of the offer, Austal’s next steps appear to involve evaluating the proposal, as the bid is not binding at this stage.
