Sydney Aviation Alliance received approval from all necessary regulators to buy Sydney Airport Holdings for AU$23.6 billion. Shareholders of the Australian airport will receive AU$8.75 per share on March 9. Trading of Sydney Airport's securities will cease from tomorrow.

Australian and EU antitrust regulators have approved the purchase of Sydney Airport Holdings by Sydney Aviation Alliance for AU$23.6 billion, or AU$8.75 per share. It remains to get approval from the Australian Foreign Investment Council and the company's shareholders.

Board of Directors of Sydney Airport found the indicative proposal of the consortium to buy the company for $16.6 billion is not in the interests of shareholders. Board members believe that despite the fact that the proposed price is higher than the market capitalization, it still undervalues the airport.

Sydney Airport has received an offer from a consortium of investment firms to buy it for A$22.26 billion, or A$8.25 per share. Sydney Airport's board of directors noted that the offer price is lower than the company's market share price before the coronavirus pandemic. The board will announce its final position after conducting a detailed analysis of the off...