Sydney Airport has rejected a revised bid of AUD22.80 billion (US$16.81 billion) from IFM Consortium to acquire a 100% stake in the airport. However, Sydney Aiport stated that it is ready to consider a higher offer.

IFM consortium increased their offer to AUD8.45 (US$6.20) a share from the previous offer of AUD8.25 (US$6.05) a share. The offer was rejected by Sydney airport after consultation with financial and legal advisers.

IFM Consortium comprises IFM Investors, IFM Global Infrastructure Fund, QSuper, and Global Infrastructure Management.