Ann: Conditional, non-binding proposal for the acquisition of SYD, page-35

UniSuper, which also holds stakes in Adelaide and Brisbane airports, said it was not a consortium partner nor privy to any details outside information disclosed publicly."UniSuper does however, in-principle, see merit in Sydney Airport being converted from a publicly listed company to an unlisted company. UniSuper also has a favourable view of the consortium partners," the fund said.

It's hard to reject such an offer when for the whole history SYD share price just went over that price in November 2019, a month before Covid started. Not many will lose on this deal. If there is, just whoever bought SYD during Nov and Dec 2019 and still hold. I believe every one will say yes to the deal. And who worries about the airport fee when we will soon have the second airport?