Hanwha Defense USA has submitted a proposal worth up to $1.2 billion to acquire Austal USA, a move that could significantly strengthen its presence in the US naval shipbuilding sector. Austal said it received a conditional, non-binding offer indicating an enterprise value of $1.05 billion to $1.2 billion, calculated on a cash-free and debt-free basis. The proposal remains subject to due diligence, and no definitive agreement has been reached. Austal’s board has authorized Hanwha to begin due diligence after concluding that the offer warrants further consideration. Austal USA designs and manufactures vessels for the US Navy and Coast Guard, while also supporting submarine-related programs. Its operations include a shipyard in Mobile, Alabama, and ship-repair facilities in San Diego, California. The proposed acquisition is limited to Austal’s US operations and would not involve the company’s publicly traded shares or its core businesses in Australia and other parts of Australasia. Defense-sector consolidation is accelerating, with major contractors using acquisitions to broaden their capabilities. In July, Lockheed Martin announced a $3.45 billion agreement to acquire Ultra Maritime, expanding its portfolio in sonar, sonobuoys, torpedo defense, radar, and autonomous maritime sensing. In June, Booz Allen Hamilton agreed to acquire Ultra I&C’s Mission Solutions business for $720 million, adding software, encryption, and edge-computing capabilities for defense and national security applications. Earlier, in May, Parker Hannifin agreed to acquire CIRCOR International’s commercial and defense aerospace business for $2.55 billion, strengthening its portfolio of flight-critical motion and flow-control technologies.
