A global infrastructure fund has lobbed an unsolicited takeover approach for an ASX-listed regional ports operator, in a bid that values the company at more than a 30% premium to its last close.
The target's board has confirmed receipt of the proposal and appointed advisers to assess it, while urging shareholders to take no action in the meantime.
Analysts say the approach reflects continued offshore appetite for Australian hard infrastructure assets with long-dated, contracted revenue.
“Ports and rail have been on international buyers' shopping lists for years — this won't be the last approach we see this cycle,” one infrastructure banker said.