Shipbuilder Austal says it has extended the due diligence period for South Korea’s Hanwha as negotiations continue over a potential acquisition of Austal’s American business.
Multiple outlets report that the extension follows progress in talks, with Hanwha granted additional time to prepare a bid for the US unit. The West Australian specifies that Austal is negotiating with Hanwha and that a deal value in the range of about US$1.05 billion to US$1.2 billion (reported in Australian dollars) was flagged when the discussions were first announced in August. Channel NewsAsia and Business News describe the move more generally as extending the timeframe for Hanwha’s bid, without adding new deal terms beyond the ongoing negotiations.
Overall, the coverage aligns on the central point: Austal’s due diligence timeline moves further out while takeover discussions with Hanwha continue, focused on the proposed acquisition of its US operations.
