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Update: Austal Receives Offer From Wildcat Infrastructure to Acquire US Business

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(Updates the headline and first paragraph with a clarification issued by Austal)

Austal (ASX:ASB) said it received a non-binding proposal from Wildcat Infrastructure to acquire Austal USA for an enterprise value of $1.25 billion to $1.35 billion on a cash- and debt-free basis, according to a Wednesday filing with the Australian bourse.

The proposed consideration is conditional on Wildcat being able to conduct four weeks of due diligence.

Wildcat plans to operate Austal USA as a standalone platform while retaining the Austal brand, per the filing. Austal said it will consider Wildcat's offer.

In August, the Australian shipbuilder received a conditional proposal from a unit of South Korea's Hanwha Group to acquire its US operations for an indicative enterprise value of up to $1.2 billion.

The Australian's DataRoom reported Wildcat's bid earlier on Wednesday.

Austal's shares jumped 7% in recent Wednesday trade.

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