A bidding war for Austal’s American shipyards
Miami investor Wildcat Infrastructure has offered US$1.25 billion for Austal USA, topping South Korea’s Hanwha.
Wildcat’s syndicate made a non-binding, cash-free and debt-free offer of US$1.25 billion for Austal USA, subject to four weeks of due diligence. Hanwha Defence USA offered between US$1.05 and US$1.2 billion in August.
Wildcat says it would run the business on its own and keep the Austal name. Austal shares rose 4.5% to $4.54.
Austal USA lost $202.8 million at EBIT level in FY26, but the group holds $186.3 million in net cash and a $16.5 billion order book built on US Navy work.
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