A surge in Auckland International Airport shares after a takeover offer for Sydney Airport helped boost the sharemarket on Monday. RICKY WILSON/Stuff A surge in Auckland Airport shares after a takeover offer for Sydney Airport helped boost the sharemarket. “Investors are saying Auckland Airport is undervalued.”The unsolicited offer for Sydney Airport from a group of infrastructure investors was at a significant 42 per cent premium to the shares’ close on Friday. Sydney Airport shares were up 32 per cent on Monday afternoon, at A$7.68. Earlier on Wall Street, the benchmark S&P 500 rose 0.8 per cent, its seventh straight gain and seventh consecutive all-time high.

Source: Stuff July 05, 2021 05:37 UTC