Sydney Airport agrees $17.5bn takeover deal

The board of Sydney Airport has agreed to a buyout from a consortium led by Melbourne-based IFM Investors for A$23.6bn (US$17.5bn). The consortium, known as Sydney Aviation Alliance, offered the airport A$8.75 a share. The deal values Sydney Airport’s equity at approximately $23.6 billion and represents an uplift in equity value of approximately $1.3 billion to the price of $8.25 initially offered by the Consortium in July 2021, and a $7.9 billion uplift to Friday’s (Nov. 5) closing price. The Sydney Airport Boards unanimously recommended that Sydney Airport securityholders vote in favour of the takeover, in the absence of a

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