Jul 06 2021
As Sydneysiders brace for another week of lockdowns a bidder has emerged for Sydney Airport, surprising the market and sparking speculation aplenty
-Highly conditional cash offer of $8.25 a share considered reasonable by brokers
-Timing of an earnings recovery for Sydney Airport remains highly uncertain
-Competing bids cannot be ruled out, given appeal of long-duration infrastructure assets
By Eva Brocklehurst
A bidder has rattled the cage of Sydney Airport ((SYD)), disturbing the solitude imposed by the pandemic, although it is unlikely to bring on a rush of international passengers.
Ord Minnett suspects the offer caught management off guard but at first glance it appears to be fair. Sydney Airport is an irreplaceable infrastructure asset and the broker points out
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