Australia's Austal rises on bid for US unit at about $1.35 billion valuation

Austal

09/09/2026 02:10

** Shares of shipbuilder AustalASB.AX gain as much as 9% to A$4.74, their highest level since August 12
** Shares post their biggest intraday pct gain since Sept 1
** Company gets bid from U.S.-based Wildcat Infrastructure for its U.S. business, valuing unit at between $1.25 billion and $1.35 billion, including debt
** Shares were briefly paused for trading pending announcement
** YTD, ASB shares down 30.8%

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com))