Owner of Australia's busiest airport has received A22.26 billion (£16.7 billion) acquisition offer. £12.1 billion)Sydney Airport said the proposal, which was below pre-pandemic stock market valuations, was being reviewed.slotxo

The company's shares jumped more than 30% after the announcement of the acquisition. The move is a sign of confidence in air travel recovering after the epidemic.If the purchasing plan is successful The deal will be the largest in the country this year.

The group, which includes IFM Investors, Pension Fund QSuper and Global Infrastructure Management, is offering A$8.25 per share, a premium of more than 40 percent from Sydney Airport's closing price on Friday.

But it is still well below a record A$8.86 high that the company's shares touched in January 2020, before the pandemic caused a surge in demand for air travel.The offer comes less than a week after Australia announced it would cut international arrivals in half. After the new coronavirus pandemic forced half of the population to lockdown this week