South Korea’s Hanwha Group and its target, ASX-listed navy shipbuilder Austal, have reached an impasse.
Contrary to unsubstantiated news reports, Hanwha is not preparing a fourth non-binding offer for the $880 million Austal. Instead, it is seeking to renegotiate what it believes are unfair requirements – put in place by Austal’s board of directors – for the right to enter the data room.
From the fin this morning. I was looking to re enter but might remain on the side line for the time being.
South Korea’s Hanwha Group and its target, ASX-listed navy...
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