Hanwha Corporation (KOSE:A000880) made a proposal to acquire Austal Limited (ASX:ASB) for AUD 1 billion on April 1, 2024. Hanwha?s Indicative Proposal is subject to numerous conditions, including due diligence, various regulatory approvals including Australia?s Foreign Investment Review Board (FIRB), the Committee on Foreign investment in the United States (CFIUS) and the US Defense Counterintelligence and Security Agency, final approval of the Hanwha Board, the unanimous recommendation of the Austal Board and Austal shareholder approval.