Insights

Sydney Airport (ASX:SYD) share price climbs amid another takeover green light

The Sydney Airport sell-off is another step closer today.
The post Sydney Airport (ASX:SYD) share price climbs amid another takeover green light appeared first on The Motley Fool Australia. –

The Sydney Airport (ASX: SYD) share price is rising today amid more progress towards a potential takeover.

At the time of writing, the airport operator’s shares are trading at $8.67, up nearly 1%.

Let’s delve into what the company announced to the market today.

What is impacting the share price?

Sydney Airport informed investors Australia’s Foreign Investment Review Board has no objection to the proposed $23.6 billion acquisition by Sydney Aviation Alliance.

The Alliance is a group of investors including AustralianSuper, IFM Investors, Global Infrastructre Partners, and QSuper.

According to an announcement released to the market today, the Foreign Investment Review Board’s ‘no objection’ letter signals all regulatory conditions surrounding the acquisition have been met.

As my Foolish colleague reported earlier this month, the Australian Competition and Consumer Commission and European Commission have also approved the takeover.

However, shareholders still need to vote in favour of the deal. And there are other conditions still to be met, including court approval.

Sydney Airport is continuing to recommend shareholders vote in favour of the $8.75 per share proposal in February.

A statement on behalf of the Sydney Airport board today said:

Each member of the Sydney Airport board intends to vote, or cause to be voted, any Sydney Airport securities held or controlled by them, in favour of the schemes.

Last week, Sydney Airport released details of the shareholder offer, to be voted on at a meeting on Thursday 3 February.

Sydney Airport share price recap

The Sydney Airport share price has surged 37% in the past 12 months and gained 35% year to date.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned more than 11% over the past year.

The company’s shares have gained 2.7% in the past month, and 1.4% in the past week.

The company has a market capitalisation of roughly $23 billion based on its current share price.

The post Sydney Airport (ASX:SYD) share price climbs amid another takeover green light appeared first on The Motley Fool Australia.

Should you invest $1,000 in Sydney Airport right now?

Before you consider Sydney Airport, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sydney Airport wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Sydney Airport (ASX:SYD) share price flat amid ‘subdued’ traffic outlook

Here are the 3 most heavily traded ASX 200 shares this Wednesday

Here are the 3 most heavily traded ASX 200 shares on Tuesday

These 3 ASX 200 shares are topping the volume charts this Monday

These 3 ASX 200 shares are topping the volume charts on Friday

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!