Ann: Conditional, non-binding proposal for the acquisition of SYD, page-49

Of course and hopefully. But Australia has foreign ownership laws that apply to airports.
Foreign investors can only own 49% and these takeover parties are the biggest Australia players and super funds so that does make it difficult.
They seem to have 51% cornered if anyone is going to take SYD private.
Unisuper(15% holding) like the idea of this company going private as well.
SYD can negotiate a better offer out of IFM but a I do seeing a competing offer struggle here, best chance for that would be Brookfield in my opinion but at a guess not likely.