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Austal Shares Rise on Higher Bid for US Operations

Austal Limited logoAustal Limited
Sig2.89Sen+2.35Env0.00Soc0.00Gov+0.76

Austal Limited shares rose 6% to $4.61 after the Australian shipbuilder said its board and advisers would consider a higher non-binding proposal for its US operations. Wildcat Infrastructure offered US$1.25 billion to US$1.35 billion for Austal USA, covering Mobile, Alabama, and related entities on a cash-free, debt-free basis, outbidding an earlier Hanwha approach.

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