The board of Sydney Airport has agreed to a takeover bid from a consortium led by Melbourne-based IFM Investors for US$17.5 billion ($24.6b).
The consortium, Sydney Aviation Alliance, offered Sydney Airport shareholders A$8.75 ($9.09) per share, Sydney Airport Limited announced to the ASX today.
The takeover is subject to a shareholder vote which is expected to take place in the first quarter of next year.
The IFM-led consortium had previously had bids of A$8.25 per share and A$8.45 per share rejected in July and August respectively.
Sydney Airport is Australia's busiest airport, and was used by 44.4 million passengers in 2018.
