Sydney Airport has agreed to an international takeover bid worth $23.6 billion dollars in one of Australia’s biggest-ever business buyouts.

The bid – by consortium Sydney Aviation Alliance – will bring shareholders $8.75 per share and has already pushed up the company’s stocks by three per cent on the ASX.

The alliance raised its bid on the international airport after two previous offers were rejected.

Superannuation funds AustralianSuper and QSuper are among the members of the consortium.

Shareholders are expected to vote on the bid some time early into the new year.

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