South Korean company wants to buy Aussie shipbuilder

[vincent]

South Korea has a strong domestic weapons building base. Apparently, they want to make it stronger, and bring in some foreign cash, too.

Australian shipbuilder Austal said on Tuesday it had rejected an A$1.02 billion ($661.9 million) takeover offer from South Korea’s Hanwha Ocean.KS as it was unlikely to be approved by Australian and U.S. regulators due to the sensitivity of its operations.

gcaptain.com/austal-rejects-takeover-proposal-from-hanwha-ocean/?subscriber=true&goal=0_f50174ef03-822c5a8a16-169965877&mc_cid=822c5a8a16&mc_eid=5591e67b40

[Ian Thomas]

Believe it when see it?
Paywalled but you get the idea ..

Hanwha’s spurned $1 billion bid for Austal looks dead in water amid approvals uncertainty | The West Australian.
thewest.com.au/business/manufacturing/austal-confirms-1b-takeover-offer-from-south-koreas-hanwha-ocean-but-calls-for-more-certainty-on-approvals-c-14163540

Austal's stock price still stuck in $2 range, down from $4 back in 2021. If takeover were in prospect, you'd see 'advance signs', aka insider trades. 🫰

hotcopper.com.au/asx/asb/?keywords=ASB

[vincent]

... you'd see 'advance signs', aka insider trades.

Good point.