A South Korean defense company, Hanwha, has submitted a preliminary bid worth up to $1.2 billion to acquire Austal USA, a leading U.S. shipbuilder. The proposed acquisition could grant Hanwha control over one of the largest U.S. shipbuilding companies, expanding its presence in the global maritime industry.
Austal USA is a major shipbuilder with a significant portfolio of defense and commercial vessels, including the U.S. Navy's Littoral Combat Ship program. The acquisition would likely be subject to regulatory approval and could have implications for the U.S. defense industry, as well as the global shipbuilding market.