Australian shipbuilder Austal advances on buyout interest for US operations

Austal

07/09/2026 02:37

** Shares of Austal ASB.AX rise as much as 5.1% to A$4.55, their highest level since September 1
** Stock on track for a third consecutive session of gains, if current trend holds 
** The Australian shipbuilder responds to local media reports regarding their U.S. operations
** Says company held a preliminary discussion with U.S. investment firm Wildcat Infrastructure for a potential transaction, but has not received any proposal
** Development follows Austal's U.S. operations receiving an offer from South Korean conglomerate Hanwha Group for up to $1.20 billion
** Stock down 34.4% YTD, including the day's moves


 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com;))