Australia's Austal rises after US division receives acquisition offer from Hanwha Defence USA

Austal

11/08/2026 01:32

** Shares of Australia's Austal ASB.AX rise as much as 11.7% to A$4.290, marking their strongest session since February 16
** Stock hits its highest level since July 1
** The ship builder and defence contactor receives non-binding, conditional offer from U.S. defence technologies supplier Hanwha Defence USA to acquire its Austal USA business
** Adds that deal at an enterprise value of $1.05 billion-$1.20 billion on a cash-and-debt-free basis
** Stock down 38.3% YTD, including sessions' moves

 (Reporting by Shravya Marakini in Bengaluru)
 ((shravya.marakini@thomsonreuters.com;))