Auckland Airport jumps on Sydney Airport takeover bid

Mon, 05 Jul 2021

Auckland Airport led New Zealand shares higher after ASX-listed Sydney Airport skyrocketed on a A$22 billion takeover offer. The S&P/NZX 50 Index rose 100.48 points, or 0.8%, to 12,812.32. Turnover was $165 million.Auckland Airport benefited from the news that a consortium of infrastructure investors pitched a takeover for Sydney Airport at A$8.25 per share. The offer sent Sydney Airport soaring more than 30% and Auckland Airport tagged along for the ride, up 5.4% at $7.60.Investment adviser at Craigs Investment Partners Peter McI...

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