Austal extends Hanwha due diligence period for US unit bid
Austal extended Hanwha Group’s due diligence period, giving the South Korean conglomerate more time to formulate a formal offer for Austal’s US business. Austal shares jumped.
Australian shipbuilder Austal (ASX:ASB) said on Wednesday it had extended Hanwha Group’s due diligence period, giving the South Korean conglomerate additional time to prepare a formal offer for Austal’s US business. Austal shares rose sharply. Here are some details