Hanwha extends due diligence for Austal USA acquisition

Hanwha Defense USA has extended its due diligence on Austal's U.S. division, saying key issues are resolved and talks have moved to deal terms. Hanwha's August proposal valued the unit at $1.05–1.2 billion, while rival Wildcat Infrastructure bid $1.25–1.35 billion.

• Austal extended due diligence on Hanwha's bid for its U.S. division
• Hanwha valued the unit at $1.05–1.2 billion; Wildcat bid $1.25–1.35 billion
• The parties began negotiating deal terms and tax matters
• Austal shares rose 11.5% to A$4.18 on the news