The Bigger Picture As Aussie Government "Approves' Hanwha Ocean's Austal Bid
Recently, I surmised FIRB would approve Sociedad Quimica y Minera (SQM US)/Hancock's bid for Azure (AZS AU); but ding Hanwha Ocean (042660 KS)'s Austal (ASB AU) tilt. I'm batting 50%.
Whereas FIRB gave the green light for Azure this week; reportedly (no official ASX announcement as yet), the Aussie government is "not concerned" with Hanwha's acquisition. Austal gained 3% yesterday.
Even Austal didn't high hopes of securing Aussie approval. Presumably the US government is similarly onboard. This development also signals an expanding AUKUS security pact.
Keep reading with a 7-day free trial
Subscribe to Aussie/Kiwi M&A/Events to keep reading this post and get 7 days of free access to the full post archives.