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Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchi - Australia's Austal said on Tuesday it had considered an A$1.02 billion takeover offer from South Korea's Hanwha Ocean and it was not"satisfied" that the deal would be approved by Australian and U.S. regulators.
The defense contractor and shipbuilder said Hanwha's offer was for A$2.825 per share, representing a premium of 28.4% to Austal's last closing price.In November, Austal signed an initial agreement with the Commonwealth of Australia which would see the company being selected as the Commonwealth's strategic shipbuilder at Henderson, Western Australia.It said that Hanwha's offer is subject to regulatory approvals including Australia's Foreign Investment Review Board and U.S.
"The company is open to further engagement if Hanwha is able to provide certainty on whether a transaction would be approved," Austal said in a statement.
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