South Korea’s Hanwha Group has submitted a non-binding offer exceeding $1
billion to acquire Austal USA, Austal Ltd said, valuing the unit at $1.05–$1.2
billion. The purchase would give Hanwha the Mobile, Alabama shipyard that builds
for the US Coast Guard and Navy and supplies submarine modules to General
Dynamics Electric Boat for Virginia- and Columbia-class submarines. Hanwha said
any deal is subject to due diligence.
