South Korea's Hanwha Ocean made a bid to acquire Austal, an Australian shipbuilding company, offering $649 million. Austal's board rejected the offer, citing regulatory hurdles and seeking 'certainty' on Hanwha's $1 billion bid. Despite the rejection, Hanwha Ocean expressed willingness to accept all 'reasonable conditions' to secure regulatory approval for the acquisition. A spokesperson for Hanwha Ocean stated that a global law firm advised there were no issues in gaining CFIUS approval for the purchase. Austal specifically rejected Hanwha's $662 million offer.
SOUTH KOREA'S HANWHA OCEAN SAYS GLOBAL LAW FIRM ADVISED NO ISSUES TO GAINING CFIUS APPROVAL TO BUY AUSTAL - SPOKESPERSON
SOUTH KOREA'S HANWHA OCEAN SAYS FIRM WILLING TO ACCEPT ALL 'REASONABLE CONDITIONS' TO SECURE REGULATORY APPROVAL TO BUY AUSTAL - SPOKESPERSON
South Korea’s Hanwha Ocean Makes $649 Million Offer for Austal https://t.co/5NzooSwXnt
Austal rejects Hanwha's $662 mln offer citing regulatory hurdles https://t.co/8AEnwuCZje https://t.co/24DxUHDMaC
Austal pushes for ‘certainty’ on Hanwha’s $1bn bid https://t.co/z2JkPToV1W
Hanwha bids for Austal, but board rejects offer https://t.co/tOLBGIA0xr