
Hanwha makes up to $1.2 bln bid for Austal's U.S. unit
Austal said in a separate statement that Hanwha Defense USA, a subsidiary of Hanwha Aerospace Co., has offered between US$1.05 billion and $1.2 billion for...
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Summary
11 (Yonhap) -- The U.S. defense unit of South Korea's Hanwha Group said Tuesday it has made a preliminary offer to acquire the U.S. business of Australian defense shipbuilder Austal as part of efforts to expand its presence in the U.S. market. The latest move comes as Hanwha has expanded its stake in Austal to 19.9 percent after receiving approval from the Australian government to increase its holdings in the shipbuilder. Austal gets up to $1.2 bln offer for U.S. unit from Hanwha; shares rally.
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11 (Yonhap) -- The U.S. defense unit of South Korea's Hanwha Group said Tuesday it has made a preliminary offer to acquire the U.S. business of Australian defense shipbuilder Austal as part of efforts to expand its presence in the U.S. market.
according to Yonhap NewsThe latest move comes as Hanwha has expanded its stake in Austal to 19.9 percent after receiving approval from the Australian government to increase its holdings in the shipbuilder.
according to Yonhap NewsAustal gets up to $1.2 bln offer for U.S. unit from Hanwha; shares rally.
according to Investing.com
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